Jun 07 2011 |
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Eni Agrees To Additional Activities In Egypt
Tuesday, Jun 07, 2011
ROME (Dow Jones)-- Eni SpA (E) , Italy's biggest energy company by market value, said Tuesday it agreed with Egypt for additional activities in the North African country, bringing its total investments there in the coming years to around $3 billion.
In a statement, Eni said the new activities will take place in the western desert, the Mediterranean and in the Sinai.
This will cover both development, through drilling additional wells and the acceleration of production from new discoveries, and exploration by drilling 12 exploratory wells.
Eni 's daily production in Egypt totals around 500,000 barrels of oil equivalent, it added.
-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; liam.moloney@dowjones.com
(END) Dow Jones Newswires
07-06-11 1333GMT
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