Italian oil and gas company Eni is looking at future investments in Iraq as it fast-tracks production at the Zubair oil field.
Production at Zubair has grown by over 100 per cent since 2015 and a new 380 MW plant that will generate power for domestic consumption is in the final stages of construction, Eni said in a statement.
Eni CEO Claudio Descalzi met with Iraq’s deputy prime minister Thamir Al Ghadhban in Baghdad to discuss ways of further strengthening the relationship through future opportunities.
The Zubair field development project, carried out by Eni Iraq B.V with Basra Oil Company (BOC), has marked the fast track development of one of the largest producing oil fields in the Southern Iraq region of Basra.
Al Ghadhban and Descalzi also discussed the progress of social projects that are currently underway in the Basra Governorate in the areas of healthcare, education, access to energy and clean drinking water.
Eni said it currently operates 475,000 barrels of oil equivalent per day (35,000 boed Eni equity) in Iraq, where it has been present since 2009 through its subsidiary Eni Iraq B.V., and with the ramp up of the Zubair Field Development Project. Eni owns 41.56 per cent in the field with Kogas holding 23.75 per cent, BOC with 29.69 per cent and State Partner owning 5 per cent.