Eni Acquires Shell Stake in Australian Gas Field

By Marc Bisbal AriasFeaturesDow Jones Newswires

Eni SpA (ENI.MI) said Thursday that it has acquired the 32.5% stake in an Australian gas field owned by Royal Dutch Shell PLC (RDSA.LN)'s subsidiary Shell Australia Proprietary Ltd.

Terms of the deal were not disclosed.

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The Evans Shoal field is located around 300 kilometers northwest of Darwin, where the Darwin liquefied natural gas plant is operating. The field is estimated to have at least 8 trillion cubic feet of raw gas in place, Eni said. The acquisition doubles Eni's stake in the field to 65%.

The Italian company also said that it has become the operator of the retention lease NT/RL7 located in the north Bonaparte Basin, offshore Northern Australia.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

December 21, 2017 06:04 ET (11:04 GMT)