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ADNOC wants to partner with Eni and OMV
Oct. 16, 2019
Source: Reuters

ADNOC wants to partner with Eni and OMV

Oil major ADNOC is planning to partner with Eni and OMV to diversify its refining capacity. The company wants to take the refining capacity to 1.5 million barrels per day. The energy company has decided to double its refining capacity and triple petrochemicals output potential by 2025. In January, OMV and Eni decided to pay a combined $5.8 billion in order to buy stakes in refining business of ADNOC.

Exxon Mobil to farm out Norwegian assets to Var Energi
Sept. 28, 2019

Exxon Mobil to farm out Norwegian assets to Var Energi

Oil supermajor Exxon Mobil has reached an agreement with Var Energi to farm out its Norwegian oil and gas assets in a $4.5 billion deal. The deal will bring an end to Exxon’s upstream operations in Norway, where it has been present for more than a century. The $4.5 billion deal is part of Exxon’s divestment strategy to let go of $15 billion worth of nonstrategic assets by 2021.

BP announces first gas from BSW
Sept. 18, 2019
Source: Energy Voice

BP announces first gas from BSW

BP has informed about first gas from Baltim field two months ahead of schedule. The firm has achieved an initial production rate of around 100 mmscfd. The production rate is expected to increase and reach 500 mmscfd before mid-2020. The production will be divided amongst BP, Eni (contractor), and the Egyptian General Petroleum Corporation. BSW was discovered in May 2016 and is said to have the potential of 610 BCF.

Eni consortium secures Indonesia’s West Ganal exploration block
Aug. 27, 2019

Eni consortium secures Indonesia’s West Ganal exploration block

Indonesian Deputy Energy Minister yesterday informed about awarding the West Ganal oil and gas exploration block to a consortium led by Eni. The consortium, which also consists of Pertamina and Neptune Energy, has fixed a commitment of $159.3 million investment for the next three years. The Indonesian government received a signature bonus of $30.1 million through the deal.

Iraq in conversation with Exxon over southern mega project
Aug. 12, 2019

Iraq in conversation with Exxon over southern mega project

Oil Ministry of Iraq is in conversation with energy giant ExxonMobil. Both the parties are discussing over a deal to enhance Iraq's southern oil infrastructure. Iraq has also made it clear that its deal with BP and Eni was for the construction of two seabed oil pipelines for its southern exports through the Gulf. And also, it was not a part of the $53 billion 30-year southern mega-project.

Eni acquires stakes in ADNOC Refining for $3.24 billion
Aug. 1, 2019

Eni acquires stakes in ADNOC Refining for $3.24 billion

As announced in January, ADNOC and Eni have now closed their strategic partnership. After this, Eni acquired a 20% interest in ADNOC refining. OMV is also a partner of this new venture. Eni and OMV will help ADNOC to manage its international product flows and streamline its systems. "With this transaction, Eni enters the UAE downstream sector and increases its global refining capacity by 35 per cent", said Eni.

Eni receives E&P license in Ghana
July 4, 2019
Source: World Oil

Eni receives E&P license in Ghana

Norway's Eni (70%) and its partner Vitol (30%) has been awarded rights to Block WB03. The block is located in the prolific Tano basin, offshore Ghana. Apart from Vitol, the joint venture will have the Ghana National Petroleum Corporation (GNPC) and a local registered Company. Eni will be the operator of the license. This license will help Eni strengthen its presence in the country.

Ivory Coast award contracts to Total and Eni
May 23, 2019

Ivory Coast award contracts to Total and Eni

Total and Eni have been awarded two new offshore oil and gas blocks each by Ivory Coast. This is an initiative by the world's top cocoa producer to develop its oil sector. "The government adopted a communication regarding talks on four contracts to share production with companies Total and ENI", said the company's government spokesman. Total will invest $90 million while Eni will invest $95 million during the exploration period.

Eni discovers oil offshore Angola
May 15, 2019

Eni discovers oil offshore Angola

Italian oil major, Eni has informed about discovering oil offshore Angola. Eni discovered hydrocarbons while drilling on the Ndungu-1 new field wildcat (NFW) well. The discovery is estimated to contain up to 250 million barrels of light oil. Eni operates Block 15/06 with an interest of 36.8421%, with partners Sonangol (36.8421%) and SSI Fifteen (26.3158%).

Nigerian court dismisses claims against Eni and Petrobras
May 9, 2019
Source: Reuters

Nigerian court dismisses claims against Eni and Petrobras

A lawsuit which was filed in 2016 by Nigeria, accused many companies of exporting a total of 57 million barrels of crude oil to the United States between 2011 and 2014. The names of the companies also included Eni and Petrobras. However, on Wednesday the Nigerian court ruled out all the claims of the involvement of the subsidiaries of Eni and Petrobras for illegally exporting crude oil to the US.

Officials of Eni, Shell named in Nigerian bribery lawsuit
May 8, 2019
Source: Bloomberg

Officials of Eni, Shell named in Nigerian bribery lawsuit

Senior executives at Shell and Eni are now facing additional corruption allegations over a Nigerian oil deal. In a London lawsuit hearing, Nigerian government asserted about the involvement of executives, including CEOs, into over $1 billion in bribery payments. The years-long dispute over exploration rights to OPL 245 has made it to courtrooms all across Europe. Nigeria has separately prosecuted JP Morgan Chase for transferring payments for the deal.

Nigerian court orders arrest of Shell and Eni ministers
April 18, 2019
Source: World Oil

Nigerian court orders arrest of Shell and Eni ministers

The acquisition of one of the biggest oil fields in the West African country in 2011 has now been surrounded by controversy. A court in Nigeria has ordered the arrest of two former ministers and others allegedly connected with the deal's illegal payments. Parties to the transaction, Shell and Eni are accused of settling the dispute over the oil field in an unlawful manner.

Eni, PTTEP receive Abu Dhabi exploration rights
Jan. 14, 2019
Source: World Oil

Eni, PTTEP receive Abu Dhabi exploration rights

Eni SpA and PTT Exploration and Production Pcl have received rights for the exploration of oil and natural gas in Abu Dhabi. The energy majors have committed to invest at least $230 million to assess the offshore blocks. Once the production phase is reached, ADNOC will have the option to retain 60% of the fields. ADNOC’s CEO said “We are engaging with partners who actually put skin in the game”.

Eni gains ownership of Oooguruk oil field
Jan. 4, 2019
Source: World Oil

Eni gains ownership of Oooguruk oil field

Italian oil major, Eni has reached an agreement with Caelus Natural Resources Alaska LLC to acquire 70% stakes in Alaska’s Oooguruk oil field. Eni already has 30% stakes in the field, and will now gain complete ownership and operatorship of the field. With the acquisition of Oooguruk, Eni’s production from Alaska will be boosted by approximately 7,000 bopd gross.

Merakes Development Project: Crucial for Eni's strategy in SE Asia
Dec. 18, 2018
Source: World Oil

Merakes Development Project: Crucial for Eni's strategy in SE Asia

Eni has received an approval from Indonesia’s Minister of Energy for the Merakes development project. The project is in the Kutei Basin and will involve the drilling and construction of subsea wells. Eni’s Board of Directors have also given a go-ahead to investment plan for the Merakes project. The CEO commented that “the Merakes Development Project approval is an important step for our strategy in South East Asia”

Qatar Petroleum to acquire Eni’s stakes in Mexican oilfields
Dec. 17, 2018
Source: Reuters

Qatar Petroleum to acquire Eni’s stakes in Mexican oilfields

Qatar Petroleum (QP) yesterday entered into an agreement with Italian energy multinational, ENI to acquire stakes in three oilfields, offshore Mexico. Briefing at a news conference in Doha, QP CEO Saad al-Kaabi informed about QP acquiring 35% stakes in in the Mexican oilfields. Production at these fields is projected to commence by mid-2019, which will be then ramped up to 90,000 bpd by 2021.

Nigeria slams Shell and Eni with $1.1 billion lawsuit
Dec. 14, 2018

Nigeria slams Shell and Eni with $1.1 billion lawsuit

Nigerian government has accused energy super major Shell and Italy’s Eni for a 2011 oilfield deal. The government has filed a $1.1 billion lawsuit against the energy giants in a commercial court in London on Thursday. Shell and Eni’s former and current officials are also involved in the ongoing corruption trial in Milan where OPL 245 oilfield is a pressing matter.

Eni finds oil offshore Angola
Dec. 11, 2018
Source: E&P

Eni finds oil offshore Angola

Italian oil major, Eni reported oil discovery in the Afoxé exploration prospect, offshore Angola. The new discovery is projected to possess around 170 MMbbl to 200 MMbbl of light oil. The Afoxé-1 NFW well was drilled in a water depth of 780 metres, reaching a total depth of 1,723 metres. Intensive data collection from the well is indicating a production capacity of more than 5,000 bpd of oil.

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