Edison: Development started on gas reserves in the offshore IBLEO

Milan, 13 May 2019 – Edison Exploration & Production (40% stake) and Eni (operator with 60% of the shares) have started developing the gas reserves in the G.C1.AG. concession.

The field will produce approximately 1.5 billion cubic metres of natural gas per year, helping satisfy domestic demand with total investments of around 700 million euros; it will use an important share of local resources, optimising the competences developed in the sector. First production is expected for the fourth quarter of 2021.

The project for the development of the field is characterised by the best safety standards, using zero emissions production techniques in complete respect for the environment. The project is characterised by a high level of technology: natural gas production is envisaged with an entirely underwater development, connected to the coast with direct access to the Gela refinery thanks to an existing dock. Once treated, the gas will be entirely released into the national network.

Edison Exploration & Production is the company controlled by Edison in the E&P sector, with business in Italy, Europe and the Mediterranean basin. In 2018, it produced 18.1 million Boe, with a portfolio of 97 concessions, permits and licences and reserves of 209.1 million Boe.

Public disclosure requirements under CONSOB Resolution no. 11971 of 14.5.1999, as amended.