Eni already owns the remaining 30% working interest of the oil field, which has been in production since 2008.
Existing gross production of the field is of 10,000 barrels of oil per day (bopd) from 25 producing wells and 15 gas/water injector wells.
Production facilities are located on an artificial gravel island situated in 1.5m of water depth with dry production trees.
The trees enable safe and environmentally responsible production.
Eni already operates the Nikaitchuq oil field, located 13km north-east of Oooguruk with a 100% working interest.
The field has been in production since 2011 and currently produces 18,000bopd.
The deal will allow Eni to increase its Alaska production by approximately 7,000bopd gross with immediate effect.
The company will also implement important operational synergies and optimisations between Oooguruk and Nikaitchuq.
Eni’s agreement is subject to the authorities’ approval and certain closing conditions.
Furthermore, Eni plans to drill production wells at both the fields, with an aim to increase its total Alaska production to exceed 30,000boed.
Last August, the company acquired 124 exploration leases located in the Eastern North Slope of Alaska.
In the US, Eni is present in 21 oil and gas fields with a net daily production of approximately 60,000boed.
Holding 228 leases in the Gulf of Mexico and Alaska, the company also has non-operated participation in the Alliance field near Fort Worth, Texas.