In addition to Italy, Egypt and the North Sea Edison currently have operations in Croatia, Algeria, Israel and Falkland Islands.
The Izabela Field is situated in the northern Adriatic Sea, about 57 km north-west off Pula. Water depth is around 38 meters. Field development has been completed in 2010. The project consisted in the development of the field through two unmanned platforms, Izabela South and North, with hydrocarbons exported via the existing transportation infrastructures to Italy and Croatia.
Izabela field started production at the beginning of July 2014. Edison has a 70% participating interest in joint venture with the Croatian oil company INA. The Izabela start of production strengthen Edison’s interest in the new bidding round launched by Croatian government for the award of exploration licenses in the Adriatic Sea.
Reggane North is located in the Reggane Basin, in the South- Western sector of the Algerian Sahara Desert. Edison International owns, in the current development phase, a working interest of 11.25% in the block. The other partners are Sonatrach (40%), Repsol (29.25%)and RWE (19.5%). Field development started in February 2012 and engineering studies were completed. Activities for the construction of the treatment plant started. During the exploration period the JV acquired 1,700 Km2 of 3D and 2,000 Km of 2D seismic, drilled 15 wells (of which 6 exploration). A total of 1,7 Tcf of reserves has been assessed. The development plan foresees a production plateau of 100 Bcf/year starting in 2016/7.
Israel is one of the most interesting areas in the Eastern Mediterranean (Levantine Basin) for hydrocarbon exploration. In the last decade several billions of cubic meters of gas have been discovered in the Israeli offshore by Noble Energy and local partners.
Edison’s activity started in 2011 with a regional study. After evaluating different opportunities, in 2012 Edison negotiated with Ratio Oil the farm-in in the GAL permit. The permit, covers 1,770 square Km, in 1,100 to 1,600 meters of water and is located in the southwest corner of Israel's Exclusive Economic Zone, 150 km off the coast. Edison, with a 20% share, has been accepted by the Oil Commissioner as a deep water operator in the Joint Venture. At the beginning of February 2013, the Oil Commissioner approved the transformation of the Gal permit in two separate licenses: Neta and Royee which cover most of the area previously occupied by the GAL permit.
In mid-2012 Edison with the Falkland project covered the high-risk high-reward quadrant of the exploration spectrum. This project will provide activity for Edison in the next 4-5 years.