BAKU, Azerbaijan, October 31. Eni's hydrocarbon production maintained an average rate of 1.64 mboe/d in the third quarter of 2023 (1.64 mboe/d for the first nine months of 2023), Trend reports.
According to the company, this represented a notable 4-percent increase when compared to the third quarter of 2022, with a 2-percent increase, compared to the first nine months of 2022. The surge in production was primarily driven by significant developments in Mozambique and Mexico, the successful launch of the Baleine project in Côte d'Ivoire, increased operational activity in Algeria, which was further boosted by strategic business acquisitions.
Additionally, Kazakhstan experienced a production uptick due to unforeseen events that occurred during the same period in 2022, and Indonesia contributed to the growth as well. However, these increments were somewhat counterbalanced by decreased production from mature fields. In a sequential comparison, production rose by 1 percent, Eni added.
Meanwhile, liquid production in the third quarter of 2023 reached 758,000 b/d, showcasing a substantial 7-percent upturn year-on-year, while over the first nine months of 2023 the output totaled 765,000 b/d (up by 3-percent year-on-year). This boost was primarily attributable to production gains in Kazakhstan, Mexico, and Côte d'Ivoire. Still, it was offset by the inevitable decline in mature fields.
Natural gas production in the third quarter of 2023 stood at 4,590 million cubic feet per day (4,563 mmcf/d for the first nine months of 2023), remaining relatively unchanged in comparison to the same periods in 2022. According to Eni, production increases were reported in Algeria, Mozambique, particularly in relation to the Coral Floating LNG project's ramp-up, Indonesia, and Kazakhstan. However, these advancements were tempered by the ongoing decline in mature fields.