High Seas Standoff: Cyprus Says Turkey Blocks Drill Ship
Cyprus on Sunday accused the Turkish military of obstructing a ship contracted by Italian oil company Eni from approaching an area to explore for natural gas, highlighting tensions over offshore resources in the east Mediterranean. A spokesman for Eni said on Sunday the Saipem 12000 drill ship had been heading from a location southwest of Cyprus towards an area southeast of the island on Friday when it was stopped by Turkish military ships and told not to continue because of military activities in the destination area. Turkey, which does not have diplomatic relations with Cyprus, claims that certain areas in Cyprus's offshore maritime zone, known as an EEZ, fall into the jurisdiction of Turkey or that of Turkish Cypriots.
Eni Ramping up Production at Zohr Field
Production from Egypt's huge Zohr offshore gas field in the Mediterranean will reach 2.9 billion cubic feet per day by mid-2019, Italy's Eni said on Monday. Speaking at an industry event in Cairo, CEO Claudio Descalzi said the goal was to reach output of 1.8 bcf to 2 bcf per day by the end of 2018 and then ramp up to 2.9 bcf per day by mid-2019. Discovered in 2015 by Eni, the field contains an estimated 30 trillion cubic feet of gas. Descalzi confirmed that by mid-2019, seven trains would be operating. Egypt has been seeking to speed up production from recently discovered fields, with an eye to halting imports by 2019 and achieving self-sufficiency.
Turkish Blockade off Cyprus 'out of Eni's control'
A Turkish blockade of a ship hired by Eni to drill for gas off the Cyprus coast is a diplomatic issue that is out of the Italian oil company's hands, Eni's CEO said on Friday. Last week, the Saipem 12000 drill ship heading from a location southwest of Cyprus towards an area southeast of the island was stopped by Turkish military ships and told not to continue because of military activities in the destination area. The ship is still halted, a Saipem spokesman said. Asked about the incident, Claudio Descalzi said Italy, Europe, France, Cyprus and Turkey were discussing the issue. "It's not really under our control," he told analysts during a conference call on the company's fourth quarter results.
EU Tells Turkey to Avoid Damaging Actions after Cyprus Ship Incident
The European Union on Monday called on Turkey to avoid threats and "refrain from any actions that might damage good neighbourly" ties after Cyprus, a member of the bloc, accused the Turkish military of obstructing a ship exploring for gas. Cyprus is one of several states, also including Israel and Lebanon, racing to tap gas deposits in the eastern Mediterranean. Greek Cypriots run Cyprus's internationally recognised government, while Turkish Cypriots have a breakaway state in the north - recognised only by Ankara - and say resources around the island belong to them too. Cyprus said on Sunday the Turkish military had obstructed a vessel contracted by Italian oil company Eni which was approaching an area to explore for natural gas.
Lebanon Will Use Energy Block Disputed by Israel
Lebanese Energy Minister Cesar Abi Khalil vowed on Friday there would be full exploration in offshore energy Block 9, part of which lies in waters disputed by neighbouring Israel. Lebanon said on Friday it had signed its first offshore oil and gas exploration and production contracts for two energy blocks. A consortium of France's Total, Italy's Eni and Russia's Novatek signed contracts for two of the five blocks that Lebanon put up for tender. Israel and Lebanon have exchanged threats and condemnation over the tender, amid rising tensions over territorial and marine boundaries. Reporting by Ellen Franci
Eni CEO Discusses Projects with Indonesian Prime Minister
The Indonesian Minister of Energy, Jero Wacik, and Eni’s CEO, Paolo Scaroni, met today in Jakarta to discuss Eni’s activities in the country. During the meeting, Paolo Scaroni updated the Minister of Energy on the progress of ongoing projects, which are considered strategic for both Eni and the Indonesian Republic. In particular, Paolo Scaroni has illustrated the importance of the project Jangkrik Complex, operated by Eni and located in the East Kalimantan deep waters, where production is expected to start less than seven years after the discovery.
Agip Rebrands as Eni Powers Ahead in North America
Agip has recently rebranded as Eni, while simultaneously announcing plans to increase penetration of its lubricant brands in North America across all industries. Gianfranco Mosconi (above) President and CEO of Eni USA R&M Co., shares the vision behind the strategy. Gianfranco Mosconi, with a Bachelor in Civil Engineering and a Master’s in Hydraulic Engineering, has been working for Eni since 1984. He started in charge of the Logistics Department; transferring to the Lubricants Business Unit were he has been in charge for Production Department and then the Supply and Sales Departments.
Eni and Rosneft Complete Joint Exploration
Rosneft’s President and Chairman of the Management Board, Igor Sechin, and Eni’s CEO, Paolo Scaroni, in the presence of the Russian President, Vladimir Putin, have signed, at the Saint Petersburg International Economic Forum, a Completion Deed relating to the agreements for the joint development by the two companies of exploration activities in the Russian Barents Sea (Fedynsky block and Central Barents block) and Black Sea (Western Chernomorsky block). The projects are part of the wider cooperation between Eni and Rosneft sanctioned under the Strategic Cooperation Agreement entered into by the parties on April 25, 2012, which provides for joint development of the Russian offshore blocks, technological and staff exchange and Rosneft’s participation in Eni’s international projects.
Eni Targets Growth in North American Market
Eni USA R&M subsidiary of Eni S.p.A. (seventh largest integrated multinational oil and gas company headquartered in Italy present in 90 countries) plans to go beyond its historical business area of Quebec, Ontario, eastern Pennsylvania, New Jersey and New York boroughs where it has sold its high quality lubricants since 1987. In the last two years, Eni USA R&M changed its business model by selling its products mostly through distributors instead of direct selling to its customers.
Eni Drills Evans Shoal Appraisal Well in Offshore Australia
Eni announced the completion of the Evans Shoal North-1 appraisal well in the Evans Shoal gas field in the Timor Sea, Australia. The field is located offshore in the NT/P48 exploration permit in the north Bonaparte Basin, some 300 km northwest of Darwin. The Evans Shoal North 1 well, drilled in 111 meters water depth and to a target depth of 3,955 meters, is 12 km away from the Evans Shoal-2. Results indicate that these wells share common reservoir characteristics and are in hydraulic communication. During the well production test the gas flow reached the facility constraint of 30 MMscf/day. Eni estimates that the Evans Shoal gas field contains at least 8Tcf of raw gas in place. Eni remains committed to fast track development of the significant and known resources in this exploration area.
Eni, Rosneft Sign Oil Supplies Agreement
Rosneft’s President and Chairman of the Management Board, Igor Sechin, and Eni’s CEO, Paolo Scaroni, in the presence of the Russian President, Vladimir Putin, and Italy’s Prime Minister, Enrico Letta, has signed a term sheet on mutual crude oil supplies and a heads of agreement on joint participation and investments in logistic and commercial activities within the hydrocarbons sector. Rosneft will supply crude oil to PCK Schwedt refinery in Germany and Česká Rafinerska refinery in the Czech Republic which are both participated by Eni.
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 .
Egyptian Prime Minister Visits with ENI CEO in Cairo
Egyptian Prime Minister Hesham Qandil and Eni CEO Paolo Scaroni met today in Cairo to discuss Eni’s activities in the country. During the meeting, which was cordial and constructive, Eni's CEO shared the developments and results of the company's ongoing activities in the country with the Prime Minister, affirming Eni's positive vision of the perspectives and the exploration potential that the country presents. Eni’s CEO also met with the Egyptian Minister of Petroleum and Mineral Resources, Osama Kamal.
Italy's ENI in Kazakahstan Shipyard Joint Project
Kazakhstan’s President Nursultan Nazarbayev & Eni CEO Paolo Scaroni consulted in Astana during the VII Kazernergy Eurasian Forum. During the meeting, described as cordial and constructive, Eni's CEO shared the developments and results of the company's ongoing activities in the country with the President, affirming Eni's positive vision of the primary importance projects that Kazakhstan presents, such as the Kashagan and Karachaganak. The President was informed of joint projects for building a shipyard in the Caspian Sea and a gas turbine power plant in West Kazakhstan region. Eni's CEO also updated President Nazarbayev on the progress of the agreement of cooperation and mutual understanding…
Eni Makes Oil Discovery
Eni has made the first oil discovery in the Offshore Cape Three Points (OCTP) block, located in the Tano Basin offshore Ghana, about 50 km off the coast of Ghana. The discovery is relevant as it may have the potential for commercial development and confirms the importance of the block also in terms of the presence of oil, as well as natural gas and condensates. Eni plans for the immediate drilling of other wells to delineate the size of the discovery and confirm the feasibility of commercial development. The discovery was made through the Sankofa East-1X well, which reached a total depth of 3,650 meters, in 825 meters of water, and encountered 28 meters with gas and condensate and 76 meters of gross oil pay in Cretaceous sandstones.
Somalia's President and Eni's Paolo Scaroni Discuss Energy
The President of the Federal Republic of Somalia, Sheikh Hassan Mohamud, met with Eni’s CEO, Paolo Scaroni. During the meeting, which took place in an atmosphere of cordiality, Paolo Scaroni expressed Eni’s interest in evaluating the exploration potential of hydrocarbons present in Somalia. Mr Scaroni highlighted the Company’s leadership and experience historically gained in the African continent where Eni is expanding its presence and achieving excellent exploration success.
CNPC, Eni Sign LNG Deal
China National Petroleum Corporation (CNPC) and Italy’s Eni signed a cooperation agreement that includes assessing opportunities in the gas and LNG value chain. "CNPC and Eni signed cooperation agreement today in order to cooperate in oil & gas exploration and production, gas and LNG value chain opportunities, trading and logistics opportunities, refining and petrochemicals. The partnership will regard both China and overseas activities," said a statement from the company. The signing took place in Rome at Eni's headquarters during a meeting between the Chairman of CNPC…
Eni Announces Production from Junín-5 Giant Heavy Oil Field in Venezuela
PetroJunín, joint venture formed by PDVSA (60%) and Eni (40%), has started production from the Junín-5 giant heavy oil field, located in the Faja del Orinoco, the area with the largest untapped hydrocarbon reserves in the world. The block is located 550 kilometers southeast of Caracas and covers an area of approximately 425 square kilometers. The Junín-5 block, currently under development, holds 35 billion barrels of oil equivalent (boe) of certified oil in place and is jointly…
Eni Awarded Arguni I Exploration License, Indonesia
In the 2nd Indonesian International Bid Round 2010, Eni has been awarded the 100% participation interest and operatorship of Block Arguni I located on and offshore in the West Papua Province, Eastern Indonesia. The Block Arguni I covers an area of 5,386 square km in the Bintuni Basin, a mainly gas prone, prolific hydrocarbon province, with several giant gas discoveries already in production. The deal involves the drilling of 2 wells and the carrying out of 500 km of 2D and 200 square km of 3D seismic surveys during the first 3 years of exploration.
Eni's Offshore Leases to be Modified
State officials are negotiating modifications of state oil and gas royalty terms on offshore Beaufort Sea leases held by Eni US Operating Inc. Most of Eni's leases on the project now require a 16.6 percent royalty on gross production revenues. Some leases are 12.5 percent gross royalty with an additional 30 percent share of net profits paid to the state. Eni is proposing to develop heavy oil from one shallow reservoir interval and conventional light oil from a deeper reservoir section in the project, which underlies shallow waters offshore the producing Kuparuk River field on the North Slope. Eni has told state officials it hopes to secure corporate approval for development by the end of 2007 and have Nikaitchuq in production in 2009. On Oct.
Italy Eni Buys Exploration Licences in Ghana
According to a Sept 28 report from Reuters, Italy's oil and gas major Eni (ENI.MI) has bought majority stakes in two offshore exploration licenses in Ghana, making a return to potentially oil-rich African country, Eni said in a statement. (Source: Reuters)
Eni CEO Meets with Tunisian Prime Minister
The Prime Minister of the Government of the Republic of Tunisia, Ali Laareyedh, the Tunisian Minister of Industry, Mehdi Jomaa, and Eni’s CEO, Paolo Scaroni, met today in Tunis for an exchange of ideas aiming to take all necessary and appropriate measures to ensure the efficiency and safety of the Transmed gas pipeline that crosses Tunisia for 300 kilometres and reaches Mazara del Vallo in Italy. During the meeting, they analyzed the current supplies and consumptions of gas situation in Tunisia, North Africa and Italy, as well as Eni's upstream activities in the country. www.eni.com
Eni, PetroVietnam Ink Offshore Exploration Contract
Eni said on Thursday it had signed a new offshore exploration contract with PetroVietnam as the Italian oil and gas group moves to strengthen its presence in Vietnam. Eni said it had signed a Product Sharing Contract with state-owned PetroVietnam for exploration in the Phu Khanh Basin which will last 7 years. Asia represents a new frontier area for Eni which currently produces more than half its oil and gas output in Africa. (Reporting by Stephen Jewkes)