Italian oil company Eni has been awarded a new production license in the UK North Sea, resulting from an application made in the 32nd UK ƶijϻ Licensing Round.
The Licence, named P2511, covers an area of approximately 340 square kilometers and is located approximately 250 km offshore UK in the Northern North Sea in a water depth ranging from 100 to 130 meters.
"[The license] is situated near the UK/Norwegian border where several significant discoveries were recently made," Eni said.
The license has an initial exploration term of six years. Eni UK will assume the role of the operator with a 100% participating interest.
"Through the license participation, Eni renews its commitment to the valorization of resources in the UK sector of the North Sea where the company has been operating for over 50 years," said Eni, which has been present in the UK since 1964 and is currently active in the Exploration & Production sector, with a production of 55 Kboed as well as in the Gas & Power and Refining & Marketing & Chemicals sectors.
In October 2020 Eni was been awarded a carbon storage license in the Liverpool Bay area of the East Irish Sea.