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31 August 2022


Report summary

Eni operates the deepwater Cassiopea project, officially known as IBLEO, in the Strait of Sicily. In 2018, FID was taken to develop the Argo and Cassiopea fields. This will establish a new offshore production hub and will be an important source of future domestic gas supply. Argo and Cassiopea are located approximately 20 kilometres from shore. In contrast, the nearby Panda discovery is affected by a moratorium on offshore drilling within 12 miles of the Italian coast. It is therefore not currently targeted for development. Edison's 40% non-operated stake played a notable role in the 2019 divestment of its upstream business to London-listed Energean Oil & Gas. The deal includes a US$100 million payment that is contingent upon Cassiopea production start-up.

Table of contents

Tables and charts

This report includes 26 images and tables including:

  • Key facts: Table 1
  • Index map
  • Cassiopea map
  • Geology: Table 1
  • Geology: Table 2
  • Well data: Table 1
  • Exploration: Table 1
  • Production: Table 1
  • Production: Table 2
  • Cassiopea production profile
  • Infrastructure: Table 1
  • Cash Flow
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2023
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2023)
  • Remaining Present Value Price Sensitivities
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Costs: Table 1
  • Costs: Table 2
  • Operating costs
  • Sales contracts: Table 1
  • Participation: Table 1

What's included

This report contains:

  • Document


    PDF 7.38 MB

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