Eni strikes oil in deepwater block

Italian national oil firm Eni SpA has discovered oil during its recent exploration drilling campaign in deepwater Bukat PSC offshore East Kalimantan, a BPMIGAS senior official said on Friday.

?Tulip-1 well is an oil discovery well, but the extend of the discovery would need further evaluation,? Dodi told Petromindo.Com without giving further detail.

Dodi said currently the rig employed by Eni is drilling the second well called Aster-4.

Eni is carrying out 4-5 well drilling campaign in Bukat since late last year and would spend in excess of US$220 million for the exploration, Dodi said in October 30, 2006 interview. The wells drilled are located in 2,900 feet-depth of water, he said.

Eni has 100 percent working interest in the block after acquiring 45 percent of Chevron Corp.?s interest in early 2006.(godang)