Eni SpA's (E) Chief Executive Paolo Scaroni Thursday said that he expects Iraq's government to make a decision on which company will be awarded the contract to develop the Nasiriyah oil field in southern Iraq "in a couple of weeks."
Along with the Italian oil giant, Japan's Nippon Oil Corp. (5001.TO) and Spain's Repsol YPF SA (REP) also submitted bids to develop the field, which is one of the world's vast oil fields.
Scaroni was speaking to Dow Jones at an Organization of Petroleum Exporting Countries seminar of world energy leaders in Vienna.
Scaroni also said he is satisfied with the status quo of a joint venture in the gas unit of Spanish power firm Union Fenosa SA (UNF.MC).
Eni has preemptive rights to make a bid for the 50% in Union Fenosa Gas it doesn't already own, after Fenosa was taken over by Spain's Gas Natural SDG SA (GAS.MC), which now holds the other 50% of Fenosa Gas.
If Eni was to make a bid for the remainder of Union Fenosa Gas, Gas Natural contractually would be allowed to make a final counter-bid, which must be 20% higher than Eni's offer.
Therefor, a possible bid from Eni could result in it actually losing the 50% it now owns in the gas JV.