Eni to invest €3.5 bln in new exploration
Eni is planning to spend €3.5 billion on exploration activities in 2018-2021, Chief Executive Claudio Descalzi has said.
16 March 2018
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Italian oil and gas major Eni is planning to spend €3.5 billion ($4.3 billion) on exploration activities in 2018-2021, Chief Executive Claudio Descalzi said at a company strategy presentation in London on Friday.
"Exploration is entering a new phase of our strategy," he said.
The company will drill 115 wells in more than 25 countries.
Areas include offshore Mexico, the Middle East, the East Mediterranean, West and East Africa, and Asia Pacific.
Eni expects oil and gas production to increase by 4% year on year in 2018, supported by...
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