Eni profits slump, but talks up new gas hub in Indonesia
Geng North is thought to hold around 5 trillion cubic feet of gas and 400 million barrels of condensate. Eni sees the Kutei Basin becoming a “new world class gas hub”.
Geng North is thought to hold around 5 trillion cubic feet of gas and 400 million barrels of condensate. Eni sees the Kutei Basin becoming a “new world class gas hub”.
The company said it aims to increase its LNG contracted volumes to more than 18 million tonnes per year of LNG by 2026.
The Italian company said it would begin work immediately and expected to complete this in early 2026.
Europe’s unloved oil majors seem to finally be winning back investors by refocusing on their core business, yet the valuation gap with their dealmaking US peers remains stubbornly wide.
Eni signed a 27-year liquefied natural gas deal with QatarEnergy, marking the Gulf nation’s third major contract with a European firm this month.
Eni has reached an agreement in principle with the UK Government over the regulatory framework which will govern its HyNet carbon capture and storage (CCS) project in the UK.
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.
Neptune Energy has announced the start of drilling at its Ofelia appraisal well in the Norwegian North Sea.
Danish pension fund AkademikerPension has completed a multi-year divestment program designed to purge its portfolio of oil and gas stocks.
The precise number of dead is not yet known. Local media have put the figure at 2,000 dead, but thousands are missing. The Red Crescent has said that 10,000 people are missing.
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.
NNPC “reserves its rights” over the breach. Failure to obtain approval allows NNPC E&P Ltd (NEPL) to “invalidate the purported assignment” to Oando.
A number of companies have come to explore Morocco’s offshore, drawn in by attractive tax rates and geological models, but have been largely disappointed.
These four OMLs attributed 24,000 barrels of oil equivalent per day to Eni net in 2022.
The Prospector 5 will now be under contract until May 2026, while the Natt is under contract until December 2025.
Eni discovered Baleine in September 2021. It took the final investment decision around six months later.
Transocean has reported the day rate for the rig is $365,000 under the one-well contract.
Saipem has secured a major contract for engineering and commissioning work on a new gas module for Libya’s Bouri field.
Azule Energy has awarded TechnipFMC work to supply flexible pipe for its Ndungu project offshore Angola.
Neptune Energy buyer Eni noted lower prices and an impact from UK windfall tax
Oilfield services giant SLB (NYSE: SLB) has teamed up with supermajor Eni (NYSE: E) to rollout a new technology for monitoring pipelines.
Eni's Plenitude renewables arm is on track to meet its profit target for 2023, as it prepares to list shares within the next two years and pushes to increase clean power generation, the unit’s chief executive officer said.
Indonesia accounted for 0.1% of Chevron’s production in 2022. It lost the Rokan block in August 2021, which had contributed 130,000 bpd the previous year.
A top oil and gas analyst has given reasoning for Neptune Energy’s decision not to go down the public listing route.
Eni acquired its environmental licence for Coral Sul in 2015. The FLNG facility shipped its first cargo in November 2022.