In September, it sold non-operated stakes in the Kaybob Duvernay and Placid Montney for $104 million. The plan is to invest some of the proceeds in international works.
Asset-based services makes up the majority of Saipem’s backlog, at 65%, or around 10bn euros this year.
A former North Sea floating production storage and offloading (FPSO) vessel owned by Altera Infrastructure is set to be redeployed to Africa as part of a 15-year agreement.
In Cote d’Ivoire, the service company has won a subsea umbilicals, risers and flowlines (SURF) contract for Baleine Phase 2. Eni began producing at this field in August.
Eni discovered Baleine in September 2021. It took the final investment decision around six months later.
After nearly three years in dry dock, the Voyageur Spirit FPSO has now departed the UK for overhaul in Dubai ahead of redeployment with Eni off Cote d'Ivoire.
Installation of the subsea production system is under way and Eni aims to begin producing by June this year.
Eni and Petroci have awarded two contracts for work in Cote d’Ivoire to Saipem, worth around 1 billion euros ($956 million).
Adnoc and Eni have held high-level talks on accelerating development at the Ghasha sour gas project, in a bid to increase global supply.
Eni (MIL:ENI) has drilled an exploration well marking a second discovery on the Baleine structure, offshore Cote d’Ivoire.
Energy major Eni has been named the upstream industry’s most-admired explorer in Wood Mackenzie’s annual Exploration Survey, and scooped discovery of the year for its find at Baleine.
Major deepwater discoveries will require major project developments to commercialise, with gas playing a crucial role, analysts from IHS Markit have said during a recent webinar, in association with the African Energy Chamber.
Exploration is back, emissaries of some of the world’s top oil companies have said, with Africa in a strong position to meet new demand.
Eni’s Scope 1 and 2 emissions increased in 2021, largely as a result of its African operations, but it offset this through the acquisition of 2 million tonnes of CO2 equivalent in forestry credits.
Africa will play a critical role in providing more supply for Eni’s portfolio, CEO Claudio Descalzi set out during the company’s capital markets day.