In 2018, hydrocarbon production set a new record, up by 2.5% vs. 2017 at constant prices.
We are always looking for new sources of our energy. Through the strict implementation of our strategic guidelines Eni was able to combine growth, profitability and soundness of financial position, achieving record hydrocarbon production at 1.85 million boe/d in 2018.
In 2018, hydrocarbon production set a new record thanks to the five scheduled start-ups for the year – Wafa compression and Bahr Essalam phase 2 in Libya, OCTP gas phase in Ghana and Ochigufu and Vandumbu in Angola –, the highest plateau on record in Iraq and, above all, the extraordinary success in the ramp-up of Zohr field where we reached the first production target to more than 2.1 bcf/d, nine months ahead the schedule and we revised the target to 3.2 bcf/d. Overall, in the year start-ups and ramp-ups of fields started up in 2017 added approximately 300 kboe/d to the full year plateau. Future production growth will be fuelled by the six FIDs made in the year related to projects in Area 1 in Mexico targeting the development of 2.1 billion of boe in place, Merakes in Indonesia, in synergy with the Jangkrik producing field, Cassiopea in Italy, Baltim South West in Egypt, Nenè phase 2 in Congo and Cabaca in Angola. Finally, relevant progress was made towards the FID on the first phase of the giant Rovuma LNG project, which includes the design and construction of two trains for the liquefaction of natural gas with a capacity of 7.6 million tonnes of LNG each, thanks to the LNG long-term purchase commitments obtained by the partners of Area 4.
Production activities, which involve hydrocarbons being extracted, treated and sent to market through pipelines or by ship, start after the completion of the development stage. The productive life of the deposit can last for decades. During that time it is continuously monitored, interventions are made to streamline production in the wells and in certain cases advanced recovery projects are launched, injecting gas or water to increase the quantity of recoverable hydrocarbons.
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