Executives at Italy's Eni are confident it will achieve the upper end of its 1.69mn-1.71mn production guidance for this year, but start-up of a key Libyan project is set to slip from 2026 into 2027. A&E Structure is a 160,000 boe/d gas development that will include some 40,000 b/d of liquids production, mainly condensate. Eni's other upcoming Libyan project — the Bouri Gas Utilisation Project development that aims to capture 85mn ft³/d of gas at the 25,000 b/d offshore Bouri oil field — had already been pushed back from 2025 to 2026. For 2024 Eni expects to be "at the upper boundary of its guidance", according to chief operating officer of Natural Resources Guido Brusco. Eni also said today it would raise its dividend for 2024 by 6pc over 2023 to €1/share, and confirmed share repurchases this year of €1.6bn.

Source: Libya Today July 27, 2024 09:04 UTC