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ENI CEO says Libya oil output drops 63 pct - FT
March 9, 2011 / 7:49 AM / 7 years ago

ENI CEO says Libya oil output drops 63 pct - FT

* Libya turmoil has cut ENI’s output by 63 pct -FT

* ENI Libya production 100,000 boepd from 270,000 boepd -FT

MILAN, March 9 (Reuters) - Turmoil in Libya has cut Italian oil major ENI SpA’s (ENI.MI) output there by at least 63 percent, Chief Executive Paolo Scaroni said in comments published on Wednesday.

ENI, the biggest foreign oil operator in Libya, has seen production drop to about 100,000 barrels of oil equivalent per day (boepd) from more than 270,000 boepd before the national uprising erupted last month, Scaroni told the Financial Times in an interview.

At the end of February, Scaroni had put output at about 120,000 boepd.

ENI has continued to work with the National Oil Co to produce oil and gas, though at reduced levels, Scaroni said.

Production “is for the Libyan people. My view is that if we can produce gas for the domestic electricity market, this is positive for everyone,” he said.

    “If the international community tells us not to produce in Libya, then we won’t produce.”

    More than half the output is in gas from the Wafa field in the desert south of Tripoli, which mostly feeds power stations.

    Scaroni said he was aware of at least one shipment of oil by the National Oil Co that had been produced by ENI.

    Asked if the fields were under government or rebel control, he said they were deep in the desert and “under nobody’s control”.

    The North African country normally produces about 1.6 million barrels of oil a day, or almost 2 percent of world output. (Reporting by Ian Simpson; Editing by Louise Heavens)

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