Italian energy company Eni has started production of the first oil field to start production in the Goliat field, in the Barents Sea off Norway, the company announced Sunday.
The Goliat oil field is located 85 kilometers northwest of Hammerfest, under production license 229, in a ice-free area in the Barents Sea, the press release said.
According to company release, the field was developed through the largest and most sophisticated floating cylindrical production and storage vessel (FPSO) in the world and the unit has a production capacity of 1 million barrels of oil.
Eni proclaimed that the daily output will reach 100,000 barrels of oil per day (65,000 barrels of oil equivalent per day net to Eni) and the field is estimated to contain reserves amounting to about 180 million barrels of oil.
'Goliat’s start-up is an important milestone for Eni’s growth strategy and will significantly contribute to the cash flow generation,' the press release said.
Under production license 229, Eni holds a 65 percent stake as the operator, while Norway's Statoil holds the remaining 35 percent.
Eni has been present in Norway since 1965, where it operates through its subsidiary Eni Norge AS. In the country, the company has interests in exploration licenses and production fields, including Ekofisk, Asgard, Heidrun and Kristin with a total equity production in 2015 of 106 thousand barrels of oil equivalent per day.
By Muhsin Baris Tiryakioglu
Anadolu Agency
muhsin.tiryakioglu@aa.com.tr