Eni could more than double production in Libya, says CEO

(AGI) Milan, Sept 28 - Eni could more than double itsproduction in Libya, said the Italian energy company's CEO,Claudio Descalzi, at the 15th Italian Energy Summit of theeconomic daily Sole 24 Ore. "We have made many finds and couldmore than double our production. This would be good news forall of Europe," Mr Descalzi said. He continued: "Our strategyfor Libya won't change: we have remained there and we're stillthere producing gas for the domestic market. In any case, thereare positive news for an open dialogue involving all theparties." He added: "Right now

(AGI) Milan, Sept 28 - Eni could more than double itsproduction in Libya, said the Italian energy company's CEO,Claudio Descalzi, at the 15th Italian Energy Summit of theeconomic daily Sole 24 Ore. "We have made many finds and couldmore than double our production. This would be good news forall of Europe," Mr Descalzi said. He continued: "Our strategyfor Libya won't change: we have remained there and we're stillthere producing gas for the domestic market. In any case, thereare positive news for an open dialogue involving all theparties." He added: "Right now we are awaiting a diplomaticsituation that continues to project Libya in a fragmentedscenario but we are confident." Descalzi believes that theprice of oil will grow over the next few years. He said: "It ismore than likely that at the end of this cycle, in two and ahalf-three years' time, the price of crude oil could rebound to70-80-90 dollars a barrel although this rise will not beimmediate because the system has to balance out and investmentsmust resume after they disappeared in the last few years."Eni's CEO confirmed his intention to deconsolidate the debt ofits subsidiary Saipem and his will to keep a stake in thecompany. . .