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ENI to review Middle East projects

ENI to review Middle East projects

ENI will review its Middle East projects due to the coronavirus pandemic and low oil price, a senior official told media in a conference call, Oil & Gas Middle East reports.

ENI boasts projects across Bahrain, Lebanon, Oman, and the UAE, including its partnership with ADNOC. When Krekshi was asked if the Ghasha sour gas field deal with ADNOC would be impacted, he said that there would be a joint review with ADNOC.

“We are at the moment reviewing all our ongoing projects for this year, 2020, and 2021. We expect to come out with the revised plan sometime in the next month.”

Fuad Krekshi, Eni’s Regional Executive Vice President

He noted that it was too soon to make any decisions, but that the company was considering its options.

“It’s not just coronavirus here. You are talking about a market with a sudden drop of prices by 50% ... so we are looking at both sides, the price impact and the coronavirus.”

Fuad Krekshi, Eni’s Regional Executive Vice President

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