Italian Eni Starts Oil Production at Barents Sea's Goliat Field

According to Italian energy company Eni, company has begun oil production at the Goliat field in the Norwegian sector of the Barents Sea.

MOSCOW (Sputnik) – The Italian energy company Eni has begun oil production at the Goliat field in the Norwegian sector of the Barents Sea, Eni announced.

"Eni has started production of the Goliat field, located 85 kilometers [53 miles] northwest of Hammerfest, under Production License 229, in a ice-free area in the Barents Sea off Norway," the company said in a press statement on Sunday.

With a 65-percent operating stake in the Production License 229, Eni said it expected to net 65,000 barrels of oil equivalent per day out of the 100,000-barrel daily output. Norway’s Statoil holds the remaining 35 percent of the production license.

"The field is estimated to contain reserves amounting to about 180 million barrels of oil," Eni said of the field described as the world's northernmost offshore platform.

It added that production would take place through a subsea system of 22 wells, 12 of which are oil producing, seven water injectors and three gas injectors. Seventeen of the wells have been completed to date.

Production at Goliat started after a reported two-year delay, with costs exceeding the initial estimate of $5.6-6 billion by nearly 50 percent.