Eni to reach full Libyan production by June

Italian gas and oil company Eni says that its Libyan operations will reach prewar production of 280,000 barrels of oil equivalent a day by June.

Eni CEO Paolo Scaroni told an oil and gas seminar on Thursday that daily production had already reached 200,000 barrels of oil. The remarks were authorized for release on Friday.

Eni relaunched production of oil in late September and reopened the Greenstream natural gas pipeline connecting Libya and Italy on Oct. 13 after eight months of being idle.

Eni's head of exploration and production, Claudio Descalzi, said the Italian producer would reach prewar production by June and 300,000 barrels a day during 2013. He said Libyan production could double again within a decade on the basis of planned investments of $30 billion to $35 billion.

(Source: Bloomberg)


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