EniOverview&NikaitchuqNorth

November15,2017

ResourceDevelopmentCouncilforAlaska

eni us operating

Agenda

§  GeneraloverviewofEni(global)andUSOpera?ons§  CurrentNikaitchuqOpera?ons

§  NikaitchuqNorthExplora?on

§  CurrentStatus

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Eni–AMajorInternaConalOilCompany

•  Opera)ngin73countrieswithmorethan33,000employees•  Currentproduc)on~1.8MMBOE/d

•  3.4blnboeofDiscoveredResourcesin2014-2016

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DevilsTower§ DevilsTower§ Triton§ DTSW§ Goldfinger

Allegheny§ Allegheny§ Pegasus

Corral:Longhorn,Appaloosa

Morpeth

Thunderhawk

NonOperatedfield

Europa

Operatedfield

Frontrunner

K2

Medusa

AlaskaNikaitchuq,Oooguruk

AllianceWestTexas

EastBreaks

St.MaloLucius

HadrianSouth

Heidelberg

EniProducConinUSA–LocaConandRelevantContribuCon

Enicurrentlyproduces75,000boe/dintheUSA

NikaitchuqOverview

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Nikaitchuq-Milestones&Achievements

§  Eniac?vitystartedin2008;FirstOilJanuary2011

§  Overallinvestment>$2B

§  Currentproduc?on~20KBO/D;Todateoilproduced>30MMBO

§  Average#ofemployees/contractors~350

§  1.1M_(335,280M)MDdrilled

§  Over70wellboresdrilled-sidetracks,plug-backs,andlateralsfrom2surfaceloca?ons

§  FocusonStakeholderrela?ons

§  Excep?onalSafety&Environmentalperformance

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AlaskaRegionalFramework

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Nikaitchuq

Oooguruk

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Nikaitchuq Infrastructure and Facilities

SpyIsland

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OliktokPoint

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Produc)on/Drilling

NikaitchuqOperaConsCenter(Camp)

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NikaitchuqNorthExploraCon

§  Enioperator(50%)•  Partner–Shell(50%)

§  Closetoourexis?ngfacili?es(~6milesNorth)

§  InStateWaters/Land(topside)reachingintoFederalOCS(bofom-hole)

§  Doublerecoverablereservesandreplacedecline

§  ExtendedReachDrilling(ERD)bestprac?ces(TD~34,000_.)

§  ExtensiveDrillingfeasibilityandWellControlStudies

§  EOY2017–endofleaseterm

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ProjectAreaMap

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Harrison Bay Block 6423 Unit

Alaska–NikaitchuqNorthprojectmilestones

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NN-01

NikaitchuqNorthdrillpath

SpyIs.DrillPad

OPP

NikaitchuqUnit

OoogurukUnit

MilnePointUnit

KuparukUnit

TR371

SL371 ADL 393175

Harrison Bay Block 6423 Unit Eni 50% (op.)

Shell 50%

ADL393175acquiredatAlaskaStateSaleinDec.

2016

•  December2015 Eniproposestheextendedreachsolu)onforNikaitchuqNorth•  May2016 EnibecomesOperator•  February2017 Explora)onleasesUniCzaConApproved•  July2017 EP(Explora)onPlan)approvedbyBOEM•  August2017 APD(Applica)onforPermittoDrill)submi\edtoBSEE•  December2017 PlannedSpudofexploratorywell

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NikaitchuqNorthProjectTimeline

eni us operting

Activity StartDate: FinishDate: Days: MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15 1 15

DrillNikaitchuqNorth01 12/10/2017 2/13/2018 65

NN01FlowTest 2/13/2018 3/10/2018 25

NN01P&A 3/10/2018 3/25/2018 15

DrillNN01STtoLateral&Complete 3/25/2018 4/14/2018 20

PerformFlowTest-Suspend 4/14/2018 5/14/2018 30

DrillNikaitchuqNorth02 12/1/2018 2/14/2019 75

NN02FlowTest 2/14/2019 3/11/2019 25

NN02P&A 3/11/2019 3/26/2019 15

DrillNN02STtoLateral&Complete 3/26/2019 4/21/2019 26

PerformFlowTest-Suspend 4/21/2019 5/23/2019 32

Winterdrillingseason 1-Dec 15-MayBrokenIce/Shoulderseason-Nodrilling 15-May 4-JulOpenWaterSeason 4-Jul 1-OctBowheadWhalemigrationsnodrilling 1-Sep 31-OctFallShoulderSeason 1-Oct 1-Dec

Shoulder WINTERDRILLING Shoulder

2017 2018 2019

WINTERDRILLING Shoulder WINTERDRILLING

NN01

NN02

Shoulder OpenWaterShoulder OpenWater Shoulder OpenWaterWhale

MigrationWhale

Migration

NikaitchuqNorth–CurrentStatus

§  BOEMEPApproval•  NEPA–FONSI

§  StateODPCPApproval

§  DoyonFinalizingRigUpgrades

§  DrillingPermitsinProgress(State/Federal-BSEE)

§  SpudWellDecember2017

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