By the OGJ Online Staff
HOUSTON, Sept. 19 -- ENI SPA of Rome earned a record 3.5 billion euros during the first half of this year, up 28% from the same period during 2000, company officials reported Wednesday.
They attributed that improvement to a 15% jump in operating income from increased hydrocarbon production and sales outside of Italy, and the 929 million euro gain from sale of part of its real estate portfolio and of its polyurethane division. Those gains were partially offset by higher income taxes of 485 million euros and increased financial expenses of 210 million euros related to borrowings.
ENI's net revenue increased 14.4% to 25.8 billion euros in the first 6 months of 2001.
The company's daily production averaged 1.34 million boe during the first half of 2001. That represented a 14% increase that should allow ENI to reach its 2003 production target of 1.5 million bbl a year earlier than planned, officials said.
All of that increased production was outside of Italy, including ENI's acquisition of Lasmo PLC early this year and startups of gas fields in Egypt, Norway, Nigeria, Tunisia, and Croatia. The company's Italian production from mature gas fields decreased by 47,000 boe/d, or 13.5%.
