Eni may hold extra share buy back after strong results, exec says
XLE•Other operational updates
Eni’s CEO said the company is in very good negotiations with PDVSA and also potential American partners. The CEO said development of Venezuela’s oilfield Junin V will be very fast.
The company said its partnership with Ares is built on a generic set of infrastructure assets. It also said good results for Enilive and Plenitude could help provide a faster view toward an IPO for these units.
Asked about the sulphur fine, Eni said its operation in Kazakhstan has been conducted in compliance with country law, and that Kazakhstan authorities are currently on hold on further enforcement measures. Eni also said disruptions in the Strait of Hormuz are having no impact on projects in Qatar and the UAE.
Post-results call highlights
Eni SpA executives said on a post-results call that the group is finalising negotiations in Venezuela for new contracts for the Junin V and Corocoro oilfields.
They also said Eni had completed a gas export agreement for Venezuela’s giant Perla field, and that the development plan for Perla is imminent.
