Eni Sees Kashagan to Produce 75,000 bopd First Month
by Dow Jones Newswires
|Friday, May 10, 2013
ROME - Eni SpA expects the much-delayed Kashagan field in Kazakstan to start producing before October and to average 75,000 barrels a day the first month and twice that within three months, a senior official of the Italian energy company said Friday.
Claudio Descalzi, head of the exploration and production division, said ENI expects output to soar in the second half of 2014. In the third quarter of next year, it will reach 370,000 barrels a day on average, he said at a press conference in Rome after a shareholders meeting.
Output will "certainly" start by the end of September, the deadline agreed with Kazak authorities, he said, adding that it may start as early as July. Earlier this year, the Italian company said it expected to start pumping in June.
The Kashagan project, which includes large oil companies such as Exxon Mobil Corp., Royal Dutch Shell PLC and Total SA, is years behind initial schedule, with cost overruns in the billions of dollars.
Copyright (c) 2012 Dow Jones & Company, Inc.
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