The unrest in Libya is worrying as the natural-gas Wafa field remains shut, said Chief Executive Paolo Scaroni of Eni SpA (E) Wednesday, as the Italian energy company continues to face challenges in the key North African country two years after the end of Col. Moammar Gadhafi's regime.
The unrest in Libya is worrying as the natural-gas Wafa field remains
shut, said Chief Executive Paolo Scaroni of Eni SpA (E) Wednesday, as the
Italian energy company continues to face challenges in the key North African
country two years after the end of Col. Moammar Gadhafi's regime.
"We are concerned as the Wafa field is shut...as it plays a fundamental
role in the Western Libyan Gas Project," said Mr. Scaroni at a conference
in
Rome
.
"There are no forecasts of when it will restart," added Mr. Scaroni,
referring to the field it jointly operates with the National Oil Company of
Libya
.
Eni is the international oil and gas company with the biggest operations in
Libya
.
Libya
is a
key market for Eni and represented about 15% of the Rome-based company's total
output before the outbreak of the civil war in 2011 that toppled the
four-decade old Gadhafi regime.
Libyan oil and gas output disruptions have hit Eni's second-quarter profit. Third-quarter
results are due next Wednesday.
Separately Mr. Scaroni said Eni will bid for two offshore hydrocarbon blocs to
be auctioned next month in
Myanmar
. The
outcome of the auction is expected at the start of 2014.
Eni has been awarded exploration contracts on two on-shore blocs in the Asian
country, Mr Scaroni also said.
"It is a country that has had little exploration [activities], he added.
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