Baghdad, 29 April 29019 - The Deputy Prime Minister of Iraq, Mr. Thamir A. Al Ghadhban, and the Chief Executive Officer of Eni, Claudio Descalzi met in Baghdad today.
Eni's CEO outlined the Company's current activities in the country in light of the recent achievements of the Zubair field development. The project, carried out by Eni Iraq B.V with Basra Oil Company (BOC), has marked the fast track development of one of the largest producing oil fields in the Southern Iraq region of Basra with over 1 Bblls of oil produced since the signature of the contract.
Zubair oil production has grown by over 100% in the last four years and a new 380 MW power plant that will generate power for domestic consumption is undergoing commissioning phase with start- up foreseen this Summer.
Eni’s CEO and the Deputy Prime Minister for Energy Affair also discussed future investment opportunities and the progress of social projects that are currently underway in the Basra Governorate in the areas of healthcare, education, access to energy and clean drinking water.
Eni’s CEO also highlighted potential synergies related to energy projects in Iraq, a strategic lever for the Country in maximizing its use of national natural resources.
Eni is one of the largest international upstream oil & gas players in the country, where it is currently producing approximately 500,000 barrels of oil equivalent day and is planning to invest additional 7B$ in the Zubair field development project.
Eni has been present in Iraq since 2009 through its subsidiary Eni Iraq B.V., and with the ramp up of the Zubair Field Development Project (Eni 41.56%, Kogas 23.75%, BOC 29.69%, State Partner 5%) the Company has become one of Iraq’s main operators in the oil sector.