Eni signs 5 exploration licenses with East Timor

摘要

London-Italy's Eni has signed five offshore production sharing contracts in the Timor Sea off the southern coast of East Timor, the European major said in a statement November 7. Eni was awarded the PSCs, which cover more than 12,000 sq km, as part of East Timor's first international acreage tender in May (ON 5/26). The company, which holds 100% in each of the permits, expects to drill two wells in the five areas during the initial three years of exploration work.