Eni SpA (E) said Thursday that it expects hydrocarbon output to grow by about 3% in the 2015-2022 period as the top Italian oil and natural gas company aims to drum up its credentials among leading upstream players after shedding its regulated gas assets and freeing up funds to spend on large projects.
Eni SpA (E) said Thursday that it expects hydrocarbon output to grow by
about 3% in the 2015-2022 period as the top Italian oil and natural gas company
aims to drum up its credentials among leading upstream players after shedding
its regulated gas assets and freeing up funds to spend on large projects.
Eni said it also expects hydrocarbon production to rise by more than 3%
adjusted for factors such as the disruptions in
Libya
following last year's civil war that toppled Moammar Gadhafi.
Italy
's biggest
oil and gas company by volume said it expects more than 1.3 million barrels of
oil equivalent in new daily production by 2022.
Earlier this year,
Italy
's
technocrat government of Prime Minister Mario Monti forced Eni to shed its
controlling stake in Snam SpA (SRG.MI), the country's biggest gas grid and
storage company by capacity, to open up the energy sector to competition. Eni
has agreed to sell the majority of its stake to state-controlled Cassa Depositi
e Prestiti SpA.
Eni, which is one of
Africa
's biggest oil producers, is
spearheading its exploration growth with large-scale projects as it faced
disruptions from its large Libyan operation.
The Rome-based company expects its share of daily production in
Libya
to be
an average of 240,000 barrels of oil equivalent in 2012, Roberto Casula,
executive vice president of
Africa
and
Middle
East
, said in a company presentation in
London
.
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