10-06-08 Italian energy major ENI has announced that the Timor Sea Designated Authority has approved the development area for the Kitan oil field following ENI's declaration of commercial discovery.
The Kitan discovery is located in the permit 06-105 of the Joint Petroleum Development Area (JPDA), an area jointly administered by Timor-Leste and Australia, and situated approximately 170 km off the Timor-Leste coast and 500 km off the Australian coast.

Kitan has recently been discovered by the successful exploration activity performed by ENI through the well Kitan-1. Following the discovery, ENI also drilled the Kitan-2 well which was completed in March 2008 and confirmed the presence of a potential commercial oil accumulation.
ENI will now progress the preparation of a development plan to the Timor Sea Designated Authority (TSDA) that will be delivered within 12 months of this approval.

ENI is the operator with a 40 % interest in the permit, while Inpex accounts for 35 % and Talisman Resources owns a 25 % interest.
This discovery is expected to reinforce ENI's presence and growth potential in the region.