The company, which aims to use its own sources for 15 percent of its fuel needs, found natural gas amounting to 1.8 million cubic meters a day as well as daily production of 850 barrels of oil, at its Abuquir field, Milan-based Edison said today in stock-market statement.
The utility may sell 25 percent of the field, which cost it $1.5 billion euros plus investment pledges of $1.7 billion. The Abuquir deposit holds 70 billion cubic meters of natural gas equivalent, and Edison is entitled to 40 percent.
Author: Ksenia Kochneva