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 by Staff Writers Washington DC (UPI) Feb 22, 2019
Italy's Eni said Friday it has already achieved its 2022 targets ahead of forecasts by reaching a production level of 1.85 million barrels per day, thanks in large part to increased African output. Eni said the "record hydrocarbons production" is a 2.5 percent increase from 2017. In refining, the acquisition of a stake the largest refinery in the United Arab Emirates increased Eni's downstream capacity by 35 percent, according to comments published along with its 2018 earnings. Production has increased mainly because of ramp-ups and start-ups in Africa, the company said. As for projects, Eni is targeting in Mexico development of 2.1 billion of barrels of oil equivalent, with the pilot project's planned start this year and the Merakes discovery in Indonesia, leveraging on the synergy with the existing infrastructures of the Jangkrik field. "Overall, in 2018, six projects were sanctioned, in addition to those previously mentioned, in Italy, Egypt, Congo and Angola," Eni said. A key project is related to its 25 percent interest in the Ghasha concession, a very large offshore gas Project in Abu Dhabi. Eni projected an expected start-up by the end of 2022. Last month, Eni was awarded seven exploration licenses in onshore/offshore areas including two in Abu Dhabi and one in Oman. Eni said in Norway it "finalized the business combination between Eni Norge and Point Resources, leading to the creation of Var Energi," with Eni's interest at just under 70 percent. The two partners in Norway will target production of 250,000 per day in 2023.
Venezuela 'on alert,' closes Curacao border ahead of aid shipment Caracas (AFP) Feb 19, 2019 Venezuela's military said Tuesday it was on "alert" at its frontiers following threats by US President Donald Trump and ordered its border with Curacao closed ahead of a planned aid shipment. Opposition leader and self-declared interim president Juan Guaido vowed to bring aid in from various points Saturday "one way or another" despite military efforts to block it. But commanders doubled down on their allegiance to President Nicolas Maduro after Trump warned them to abandon him. "The armed f ... read more
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