ENI SpA (ENI.MI) said Thursday oil production has begun from the Woolybutt South project off the coast of Western Australia, a joint venture with ExxonMobil Corp.(XOM) and Tap Oil Ltd. (TAP.AU). ENI Australia Managing Director Eros Agostinelli said first oil had been produced Wednesday and, together with existing production from Woolybutt North, would boost the field's output.
"We expect the total rate from the field to reach initially around 12,000 barrels of oil per day, up from the previous 3,300 we were producing," he said.
Agostinelli said work was continuing to fully appraise the size of the Kitan discovery in the Timor Sea, but that in rough terms it was expected to contain between 30 million and 40 million barrels of oil and to have theoretical deliverability of 20,000 barrels of oil per day.
Kitan is a joint venture between ENI, Inpex (1605.TO) and Talisman Resources.