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Eni Spa News

26 Feb 2023

Eni-chartered Cargo of Venezuelan Crude Departs for Europe

A 655,000-barrel cargo of Venezuelan heavy crude chartered by a unit of Italy's Eni SpA departed on Friday from a port operated by state-run PDVSA, shipping data showed, marking Venezuela's first export to Europe after a three-month pause.Eni and Spain's Repsol SA last year received U.S. authorizations to take Venezuelan oil to Europe as compensation for outstanding debt in an easing of American sanctions on Venezuela's oil industry.But the shipments were allocated intermittently last year. And so far this year most Venezuelan crude exports have been halted during a sweeping audit by new PDVSA boss Pedro Tellechea, who revised contract terms to avoid a series of failed payments by some customers.The Greece-flagged Aframax tanker Minerva Alexandra…

01 Apr 2022

New Fortress Energy Plans to Build Offshore LNG Export Project in Louisiana by Q1 2023

Image for illustration - New Fortress Energy's Fast LNG liquefaction design pairs modular, midsize liquefaction technology with jack-up rigs or similar floating offshore infrastructure to enable lower cost and faster deployment schedule compared to conventional floating liquefaction vessels and onshore liquefaction terminals. The company last year bought two jack-up rigs from Maersk Drilling to use them for Fast LNG project. - File Image: Maersk Drilling

U.S. energy company New Fortress Energy Inc said on Thursday it filed with federal regulators to build an offshore liquefied natural gas (LNG) export project off Louisiana that could enter service as soon as the first quarter of 2023.That is much faster than the usual two to four years it takes to build a land-based LNG plant and, if completed, would help the United States meet President Joe Biden's recently announced goal of sending more LNG to Europe to help allies wean themselves off Russian gas.Last week…

16 Dec 2020

Venezuela: PDVSA Starts Oil Transfer from Troubled Offshore Facility to Barge

The FSO Nabarima listing in the Gulf of Paria on October 16 (Photo: Fishermen and Friends of the Sea)

Venezuelan state oil company Petroleos de Venezuela has begun transferring crude off of an offshore oil facility where governments in two neighboring countries have voiced concerns about a potential spill, two people familiar with the matter said on Tuesday.The company this week began the first of several transfers from the Nabarima floating storage and offloading facility (FSO), anchored in the Corocoro oilfield off Venezuela's eastern coast, onto the Inmaculada barge, said the people…

03 Nov 2020

U.S. Tells Eni Repairs to Venezuela Floating Oil Facility Not Barred by Sanctions

The FSO Nabarima listing in the Gulf of Paria on October 16 (Photo: Fishermen and Friends of the Sea)

The United States has assured Italian oil company Eni SpA that efforts to prevent a spill at a floating crude facility in Venezuela would not run afoul of sanctions, the company, and the U.S. State Department said on Monday.Images in recent months showing the Nabarima floating storage and offloading facility (FSO), part of the Petrosucre joint venture between Eni and Venezuela's state oil company Petroleos de Venezuela, tilting to its side have raised concerns of a potential environmental…

27 Oct 2020

FSO Nabarima Is 'Upright' but Crude Transfer Could Be Risky

The FSO Nabarima listing in the Gulf of Paria on October 16 (Photo: Fishermen and Friends of the Sea)

A Venezuelan floating oil facility that had been listing in recent weeks is upright and shows no sign of sinking, but plans to offload crude from the vessel posed some risks, the energy minister of neighboring Trinidad and Tobago said on Thursday.A team of experts from Trinidad inspected the Nabarima facility on Tuesday and found there was “absolutely no tilt” and that the vessel was “totally horizontal,” Energy Minister Franklyn Khan told reporters.“There is no imminent risk of tilting or sinking…

21 Oct 2020

Tanker Approaches Listing FSO Nabarima to Load Crude

The FSO Nabarima listing in the Gulf of Paria on October 16 (Photo: Fishermen and Friends of the Sea)

An oil tanker operated by Venezuelan state oil company Petroleos de Venezuela on Tuesday approached a floating oil facility where it is expected to receive crude via transfer at sea amid environmental concerns, Refinitiv Eikon data showed.Environmental groups have in the past two weeks expressed concern about a potential spill of the 1.3 million barrels of crude aboard the Nabarima oil facility - part of the Petrosucre joint venture between PDVSA and Italy's Eni SpA - after images…

20 Oct 2020

PDVSA Plans to Offload Oil from Tilting FSO Offshore Venezuela

The FSO Nabarima listing in the Gulf of Paria on October 16 (Photo: Fishermen and Friends of the Sea)

Venezuelan state oil company Petroleos de Venezuela (PDVSA) plans to offload crude from the Nabarima floating oil facility via ship-to-ship (STS) transfer amid environmental concerns, two people familiar with the matter said on Monday.The Nabarima, part of PDVSA’s Petrosucre joint venture with Italy’s Eni SpA in the Paria Gulf off Venezuela’s eastern coast, is laden with 1.3 million barrels of crude.Images last week showed it tilting on its side, raising worries about a possible oil spill.

04 Sep 2020

PDVSA Says Idled Nabarima FSO in 'Satisfactory' Condition

An idled oil storage facility off Venezuela's eastern coast is in "satisfactory" condition, an official with state company Petroleos de Venezuela said, after a series of incidents in recent months raised concerns about environmental hazards.About 1.3 million barrels of Corocoro crude have been stuck for over a year aboard the Nabarima FSO (floating storage and offloading facility), part of the Petrosucre joint venture between PDVSA, as the company is known, and Italy's Eni SpA, as U.S. sanctions have complicated the nation's exports.With no operating crew on board, in July the vessel presented an 8% incline that created the risk of a spill, and in late August a sea water leak led to flooding in the engine room.

27 Jan 2020

NLNG Signs LNG Supply Deal with Eni

African producer Nigeria Liquefied Natural Gas (NLNG) signed a long-term contract with the Italian energy major Eni SPA for the supply of 1.5 million tonnes/year of liquefied natural gas (LNG) for 10 years from Trains 1, 2, and 3 in Bonny Island, Nigeria.The LNG will be produced from the existing Trains 1,2 and 3 located in Bonny Island, Nigeria.Eni, through its local affiliate NAOC, is also one of the suppliers of the liquefaction plant, thus contributing to the valorization of associated gas resources in Nigeria.The deal, together with the one for 1.1 million tonnes of LNG executed last December between Eni and NLNG, allows Eni to…

16 Dec 2018

Qatar Buys Eni's Mexican Oil Stakes

Qatar Petroleum (QP) signed an agreement with Italy’s Eni SpA to acquire a 35% stake in three offshore oil Fields in Mexico.The agreement cover the Amoca, Mizton, and Tecoalli offshore oil fields, which lie in Area 1 in Mexico’s Campeche Bay, said a press statement from the Arab country's government-owned energy company.The agreement is subject to customary regulatory approvals by the government of Mexico. Following such approval, both Eni and Qatar Petroleum will jointly hold 100% interest in the Area 1 production sharing contract.Commenting on this agreement, Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, President & CEO of Qatar Petroleum…

31 Aug 2015

Eni Finds Giant Egyptian Offshore Gas Field

The Italian energy major Eni SpA discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company said is the largest find in the Mediterranean Sea. The Zohr gas field covers any area of 100 square kilometers and Eni said that "it could become one of the world’s largest natural-gas finds” and supply Egypt's needs for decades. Eni, owned by the Italian government, said that the field contains an estimated 30 trillion cubic feet (TCF) of natural gas. This compares with up to 22 TCF in Israel's Leviathan field. "This historic discovery will be able to transform the energy scenario of Egypt," said Claudio Descalzi, chief executive of Eni. Eni, which has full concession rights to the area, is the biggest foreign energy firm in Africa.

06 Jun 2014

Italy Warns Oil Traders off Kurdish Tanker

Italy sees possible Iraqi legal action over Kurdish oil; Kurds, Baghdad battle over sales from autonomous region. Tanker of Kurdish oil currently floating off Morocco. Italy has warned oil traders they face potential legal action from Baghdad if they buy disputed exports of crude from Iraqi Kurdistan, in the latest setback for the autonomous region in its struggle with the central government over oil sales. The Kurdish Regional Government (KRG) loaded its first pipeline shipment of Kurdish oil onto the United Leadership tanker at the Turkish port of Ceyhan two weeks ago, in a move it said was designed to show Baghdad it controls its own oil sales.

19 Sep 2013

Eni Approves Dividend

Approval of 2013 interim dividend: €0.55 per share by Eni's Board of directors. At the board meeting held today, Eni’s Board of Directors resolved to distribute to Shareholders an interim dividend for the fiscal year 2013 of €0.55 per each share  outstanding at the ex-dividend date as of 23 September 2013, payable on 26 September 2013. The proposal to distribute an interim dividend of €0.55 was announced to the market on 1 August 2013, when the Company published its second quarter results .

12 Jul 2013

Seadrill Secures Jack-up 'West Freedom' Contract

'West Freedom': Photo courtesy of Seadrill

Seadrill Limited has secured a new contract for the LT-Super 116E jack-up rig West Freedom offshore Venezuela with Cardon IV Venezuela, an ENI SpA and REPSOL joint venture. The contract is for a firm period of 30 months plus an option for a 6 month extension at mutually agreed rates. The potential revenue for the primary contract term is approximately US$222 million inclusive of an estimated $8.5 million of mobilization. The West Freedom is currently operating in Qatar and will likely be available to commence its charter in late September 2013.

27 Mar 2012

North Sea Rigs Evacuated on Explosion Risk

Total SA’s Elgin platform leaked gas for a third day in the U.K. North Sea, and neighboring rigs were evacuated to guard against the risk of an explosion. The platform was evacuated and production halted after a “well control problem” caused a leak on March 25. Total has flown in outside experts to help stem the flow of fuel, which prompted Royal Dutch Shell Plc. to move staff from its neighboring Shearwater field. The Elgin and Franklin fields, which send oil and gas through the platform, supply about 15 percent of Forties crude, the biggest component of Dated Brent used to price more than half of the world’s oil. As well as gas, about 23 metric tons of condensate…

03 Feb 2010

Cathelco Wins Orders from FPSO

Cathelco is supplying an impressed current cathodic protection (ICCP) system for the FPSO Okha which is being converted by Single Buoy Moorings. After conversion, the Okha will be operated in oil fields off the North West Shelf of Australia by Woodside Energy Ltd, replacing the FPSO Cossack Pioneer. Conversion work will take place at the Keppel Shipyard in Singapore. During the installation of the ICCP system, local support will be provided by Cathelco S.E.A., also based in Singapore. “Before designing the system a study was undertaken by Force Technology, using computer modeling, to determine whether interference from the sacrificial anodes on the riser column would have an effect on the performance of the ICCP equipment…

08 Sep 2006

ConocoPhillips Confirms North Sea Discovery

ConocoPhillips confirmed the discovery of a new gas condensate field in blocks 30/6 and 30/7 in the United Kingdom sector of the North Sea, approximately five miles (nine kilometres) west of the Judy field. ConocoPhillips UK Limited is the Operator and holds a participating interest of 36.5 percent in the new discovery along with ENI SpA (33.0 percent) and BG Group (30.5 percent). Exploration well 30/6-6, which ConocoPhillips drilled earlier this year in a water depth of 265 feet (81 meters), confirmed the presence of a hydrocarbon accumulation. An immediate sidetrack of the well, drilled to a total depth of approximately 16,000 feet (4800 meters) True Vertical Depth Subsea (TVDSS), further delineated the discovery.

17 Feb 2006

Norway Govt Approves Tyrihans Project

Statoil ASA said the Norwegian Parliament has approved the development plan for the Tyrihans offshore oil and gas field. The $2.1 million project will see production begin in 2009, and hold estimated reserves of 182 million barrels of oil and condensate, and 34.8 billion cubic meters of natural gas. Statoil is the operator of the Tyrihans project, with a 46.8 percent stake. Other partners include Total, who will hold 21.51 percent following the sale of a 5 percent stake in the field to ExxonMobil, expected to be completed soon. ExxonMobil will then hold an 11.75 percent stake. Norsk Hydro ASA holds 12 percent, and Eni SpA has a 7.9 percent stake. Separately, Total said the initial plateau production at the Tyrihans field should reach 70,000 barrels of oil equivalent per day in 2011.

26 Jan 2000

E&P Spending 2000: A Disappointing Gain?

While the theoretical jury deciding which direction the offshore drilling market will take is still out, recent data suggests that the level of spending internationally will disappoint. Calling a 10.2% gain in spending a disappointment may seem a bit harsh, particularly given the depths to which the market has fallen in the previous two years. But considering the price per barrel has catapulted from the $10 level early in 1999 to the mid-20's by the beginning of 2000, it is fair to say expectations were set a bit higher. According to a recent Lehman Brothers survey, the following are the spending plans - by world region - for more than 320 oil companies. 2000E 1999E Year % Chg. # Co. U.S. U.S. Total U.S.

25 May 2006

East Timor Awards Six O&G Contracts

The East Timor government has awarded five offshore oil and gas contract areas to Italy's Eni SpA and one area to India's Reliance Industries Ltd through a tender, according to a report from Forbes. The government has reportedly offered 11 areas in the first offshore bidding round, which was ended on April 19, of which it received a total of nine bids for six areas. A statement said the commission has identified that bids from Eni SpA for contract areas A, B, C, E, and H, and a bid from Reliance for contract area K offer best conditions and advantages. Reliance also filed a bid for area E, while Petronas consortium put bids for area C and E, which were awarded to Eni.

16 Nov 2005

Venezuela Awards Natural Gas Exploration Rights

Venezuela awarded natural gas exploration rights for two areas in the Gulf of Venezuela to Italian energy company ENI SpA, Spanish-Argentine firm Repsol YPF, Brazil's Petrobras and Japan's Teikoku Oil Co., according to a NewsFromRussia report. ENI and Repsol combined to offer a winning bid on one area of $34.4 million, while Petrobras and Teikoku won rights to another area with a bid of $19.5 million. Rights to a third area were awarded to Venezuela-based Vinccler Oil and Gas, which offered a bid of just under $7.4 million, according to the report. The offshore natural gas project involves 29 areas spanning 30,000 square kilometers (12,000 square miles) in the Gulf of Venezuela. The area's reserves have yet to be proven, but they are estimated at some 24 billion cubic ft.