Italy's Eni SpA (E) said Tuesday that it has started production from the Oooguruk offshore oil field, located in the North Slope of Alaska, some 250 kilometers southeast of Barrow.
Eni owns a 30% working interest in the field, acquired through the purchase of Armstrong Oil&Gas' Alaskan assets in August 2005. Pioneer Natural Resources Company holds the remaining 70% and is the field's operator.
The Oooguruk development was sanctioned in early 2006. The estimated gross recoverable reserves are approximately 90 million barrels of oil.
Eni said peak oil production of approximately 20,000 barrels a day is expected in 2011.
"Through its participation in the Oooguruk project, Eni achieves its first production in Alaska, an area that offers great potential, and enhances its role as a major player in the Arctic," the company said in a statement.