Petroleum Africa
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Monday, August 5, 2013
ENI’s annual production targets have been downgraded due to problems in some of the country’s it produces in, namely Libya and Nigeria. The company had expected to see some production growth this year but has now said that it expects oil and gas production to be in line with 2012 numbers.
ENI saw supply disruptions in Libya where it is the largest foreign operator, and in Nigeria where outages are a problem. “Performance (in Q2) was affected by force majeure events in Nigeria, particularly significant, and in Libya,” ENI said.
While the numbers were not looking good for the Italian firm in H1, the company’s chief executive Paolo Scaroni said that he expects to see “a significant improvement in our second-half results.”
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