Italian giant Eni is looking for future investments opportunities at Iraq’s Zubair oil field to increase the production track, Pipeline Oil and Gas Magazine reported.
Eni CEO Claudio Descalzi sat with Iraq’s Deputy Prime Minister Thamir Al Ghadhban in Baghdad to find more ways to reinforce the two countries’ relationship by creating more opportunities.
The field’s production has increased by 100% since 2015, in addition, the new 380-megawatt (MW) plant that generates power for domestic needs is at its final construction stages.
Zubair’s development project has been carried out by Eni Iraq B.V with Basra Oil Company (BOC). With the ramp up of the development project, Eni owns 41.56% in the field with Kogas holding 23.75%, BOC with 29.69%, and State Partner owning 5%.
The project marks the fast track development in one of the largest producing oil fields in Southern Iraq.