Eni In Process Of Reducing Stakes In Mexico, Indonesia Oilfields-CFO



Eni In Process Of Reducing Stakes In Mexico, Indonesia Oilfields-CFO
Italy's oil and gas major Eni is in the process of reducing its stakes in its oilfields in Mexico and Indonesia, Chief Financial Officer Massimo Mondazzi says.

Reuters

RAPALLO, Italy - May 31 (Reuters) - Italy's oil and gas major Eni is in the process of reducing its stakes in its oilfields in Mexico and Indonesia, Chief Financial Officer Massimo Mondazzi said on Thursday.

"We define our strategy as "dual exploration": we normally start with a very high stake in a field and then reduce it through an ongoing process. " Mondazzi said, speaking on the sidelines of a conference.

He added that the group has done it in the past with its Mozambique and Egypt oilfields "and will continue to do so in the future".

(Reporting by Giancarlo Navach; writing by Francesca Landini)



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.