UPDATE 1-Eni CEO sees 2008 output close to 2 mln bpd

Fri Feb 1, 2008 3:04pm GMT
 
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MILAN, Feb 1 (Reuters) - Italian energy group Eni's (ENI.MI) oil and gas output this year will be nearly 2 million barrels of oil equivalent per day (boepd), Chief Executive Paolo Scaroni said on Friday.

"Eni will grow more than other (oil) majors: in 2000 output was lower than 1 million barrels, while in 2008 it will be close to 2 million," Scaroni told university students at a lecture.

Eni's third-quarter oil and gas production was 1.66 million boepd. Eni said in October it expected output this year to be about 1.77 million boepd, the same as in 2006.

"As for the goal of 2 million barrels in 2008 you have to see what the (North Sea) Brent (crude oil) price will be, the contribution from acquisitions and whether the company is thinking about non-organic growth," said an Italian analyst, who asked not to be named.

Scaroni's predecessor, Vittorio Mincato, said three years ago his dream was to reach an output of 2 million (boepd).

Eni's shares were up 0.46 percent at 21.69 euros at 1442 GMT, in line with the DJ Stoxx European oil and gas sector index .SXEP. (Reporting by Giancarlo Navach; Editing by Greg Mahlich)

 

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