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Eni's CEO looking at possible new investments in Iraq

Thamir Al Ghadhban and Claudio Descalzi met in Baghdad.

Eni's CEO looking at possible new investments in Iraq Eni's CEO looking at possible new investments in Iraq


Baghdad, February 5 - Neftegaz.RU. The Deputy Prime Minister of Iraq, Thamir Al Ghadhban, and the CEO of Eni, Claudio Descalzi met in Baghdad on February 4. Italian company eyes future opportunities and development investments in Iraq.

 

They discussed «future opportunities and development investments that will further strengthen Eni's relationship with the country». The visit comes as Eni is seeking to expand its presence in the Middle East.

 

 «Claudio Descalzi outlined the company's current activities in the country in light of the recent achievements of the Zubair field development. The project ... has marked the fast track development of one of the largest producing oil fields in the southern Iraq region of Basra,» the company said. Zubair is the 2nd biggest field in Iraq after Rumalia, which was developed by BP and China's CNPC in partnership with the Iraqi oil company.

Eni said it currently operates 475,000 barrels of oil equivalent per day in Iraq, of which 35,000 barrels of oil equivalent per day is Eni's equity ownership. Eni has been present in Iraq since 2009 and with the ramp up of the Zubair Field Development Project the company has become one of Iraq’s main operators in the oil sector.

 

Source : Neftegaz.RU