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Eni’s hydrocarbon production falls

Oil&Gas Materials 21 February 2022 11:31 (UTC +04:00)
Eni’s hydrocarbon production falls

BAKU, Azerbaijan, Feb.21

By Leman Zeynalova – Trend:

Eni’s Q4 2021 hydrocarbon production stood at 1.74 million barrels of oil equivalent per day (boe/d), up 2.7 percent net of price effects compared to the fourth quarter of 2020, Trend reports with reference to the company.

Eni notes that growth was fueled by continued production ramp-ups at the giant Zohr (Egypt) and Merakes (Indonesia) gas fields, with the latter achieving first gas last April.

In the full year 2021, production fell compared to the full year 2020 due to greater maintenance activity (in Norway, Italy and the UK), lower activity in Nigeria and mature fields decline. Start-ups and ramp-ups added 70 kboe/d (on average in the full year of 2021) mainly due to Merakes in Indonesia, Berkine in Algeria, the Mahani gas project in the Sharjah Emirate (UAE), as well as the tie-in of the satellite discoveries of Cuica and Cabaca North in Block 15/06, offshore Angola.

In the full year of 2021, over 700 million boe of explorative resources were discovered as part of an exploration strategy soundly balanced between near-field/ILX activities and selected initiatives in high-risk/high-rewards plays.

The main discovery made in 2021 was Baleine offshore Ivory Coast in the operated Block CI101, which identified resources in place estimated to be around 2 billion barrels of oil and 2.4 trillion cubic feet (TCF) of associated gas. Near-field discoveries were made in Angola, Norway, the UK, Mexico, Ghana, Indonesia and Egypt.

In the full year of 2021, Eni renewed the exploration portfolio with the addition of approximately 15,800 square kilometers of new leases in Angola, the Ivory Coast, Egypt, the UAE, Norway, the UK and Vietnam.

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Follow the author on Twitter: @Lyaman_Zeyn

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