Eni CEO Claudio Descalzi last week pledged that his company will invest “more than €8bn [$9.1bn]” in each of its three key North Africa areas of operations over the next four years. A pledge that means that the region, which provided 35% of the Italian firm’s global output for 2024 (598,000 boe/d of 1.71mn boe/d), is likely to strengthen its position further.
In Egypt, Eni is looking to bolster output at its declining Zohr field including via the tie-back of nearby discoveries (MEES, 11 April), whilst in Libya the bulk will go on ongoing development of offshore 6tcf ‘Structures A&E’ (MEES, 18 August 2023), where development began last week (MEES, 11 April). (CONTINUED - 1089 WORDS)
