Petroleum Africa
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Monday, April 7, 2014
ENI has shelved the possibility of exiting Nigeria due to oil theft according to the company’s chief executive Paolo Scaroni during a parliamentary hearing in Italy. “We are thinking, we thought of leaving Nigeria,” Scaroni told parliament.
Reuters cited an ENI spokeswoman of later saying the company had in the past thought of leaving the country but added it was not now an option under consideration.
Oil theft, or bunkering is a significant issue for oil majors operating in the Niger Delta which causes continuous disruptions to production and oil spills that pollute the region. ENI and its partners on some OMLs in the Niger Delta, Shell and Total, have sold off their stakes in various assets that have been the target of oil bunkerers for a number of years.
According to Scaroni the company’s production in 2013 was 60,000 bpd less than its production capacity of 170,000 bpd.
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