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Tripoli, 30 October:
Libyan oil and gas have made a . . .[restrict]vital contribution to strong third quarter financial results from ENI, the leading foreign oil and gas company operating in the country.
ENI, Italy’s largest oil firm, announced today that: “In the third quarter of 2012, adjusted operating profit from continuing operations was €4.36 billion, up 2.2% from the third quarter of 2011.”
The company said the result reflected a better operating performance by the Exploration & Production division (up 10.8%) due to an ongoing production recovery in Libya. ENI added that its oil and natural gas production was 1.718 million barrels of oil equivalent (boe) per day in the last quarter, an increase of 16% from 2011.
The availability of Libyan gas also boosted the energy giant’s supplies. A decline in gas sales resulting from the expiry of other supply contracts was “partly offset by a recovery in Libyan gas supplies.”
Paolo Scaroni, chief executive officer, said: “In the third quarter, Eni delivered strong results with production growth supported by the continued improvement of the Libyan output.” [/restrict]
