Eni plans to bring 41 fields on stream in 4 years

OGJ editors
HOUSTON, Mar. 16 -- Italy’s Eni SPA plans to bring 41 fields on stream in 4 years, resulting in 560,000 boe/d of new production in 2013. The oil and gas company plans to operate 75% of that new production.

Eni expects its production will grow more than 2.5%/year through 2013 and more than 2%/year up to 2016, according to Paolo Scaroni, Eni chief executive officer.

Assuming a $65/bbl oil prices, Eni expects its 2010 production will be in line with 2009 at 1.77 million boe/d. In 2013, production likely will exceed 2 million boe/d, Eni said.

Production growth will be focused on new high potential areas, particularly Iraq, Scaroni said. Eni, Occidental Petroleum corp., and Korea Gas Corp. hold a technical services contract to redevelop Iraq’s Zubair field near Basra (OGJ, Feb. 1, 2010, Newsletter).

Led by Eni, the group plans to boost Zubair production to 1.2 million b/d from 200,000 b/d within 6 years and to maintain that production level for 7 years.

During 2010-13, Eni expects investments of €52.8 billion, up 8% from its 2009-12 plan. Exploration and production projects will account for the entire increase in investments, the company said.