MILAN, March 2 (Class Editori) -- Eni has successfully completed the gas pipeline which links the production sites of Bir Rebaa North and Menzel Ledjmet East, located in the basin of Berkine, in Algeria. The project, a fast track example of the group led by Claudio Descalzi and Sonatrach, will allow the export of the associated gas at block 403 and the development of gas fields at the block of Berkine North; here, the perforation and the connection of the first 4 wells have already occurred, only one year after the come into force of the farm-in agreements regarding the concessions of Sif Fatima II, Zemlet El Arbi and Ourhoud II, which have taken place in February 2019. At the same blocks, in May 2019, the production from oil fields has started, whose development will go on during the current year.
According to a note, the project is relying on a common accelerated time to market strategy and on the availability and the capacity of the contractor companies of the Algerian group Sonatrach, which have to carry out the works.
At Berkine North, the production will reach 6.5 million cubic meters and 10,000 barrels of associated liquids, which, together with the oil development, will lead to a production of 65,000 barrels of oil equivalent (BOED) per day within 2020. Eni has been active in Algeria since 1981, with an equity production of 90,000 barrels of oil equivalent per day; the company is therefore one of the main international players of the country.
The company has launched its strategy for 2050: the goal would be to rely increasingly less on oil, because, within the next 30 years, Eni will own a productive portfolio 85 percent based on gas. Starting from 2025, the goodbye to barrels will occur. The 2020-2023 plan will then become "the first step of a long journey", as the CEO Descalzi has explained to MF-Milano Finanza.
"In the long-term, Eni would not rely on oil anymore. In 2019 we have reached a record in production up to 1.87 million barrels per day, which allowed us to replace 117 percent of produced reserves. The upstream production will grow by 3.5 percent per year until 2025, taking into account that we are aiming at discovering 2.5 billion barrels in 2023. Then, it will all be a downhill, in particular in the oil field", as the top manager has explained, "in order to give evidence of the journey to New Eni, we are the only company which has disclosed a so long-term plan, by showing not only decarbonisation targets but also an industrial detailed project, which will lead us to reduce the carbon footprint, and this has never happened before".
And he has added: "we have adopted a methodology which includes all the supply chains, by relying on an extremely traditional approach in order to not leave space to any potential weakness. We are aiming at delivering to the final customer a decarbonised product and detaching from the typical fluctuations of the hydrocarbon field. We will prove our ability in producing hydrogen, bioelectricity, biomethane etc, in order to reduce emissions by 80 percent, beyond the 70 percent target pointed out by IEA within 2050, in a scenario consistent with the objectives of the Paris agreement".
(Source:Class Editori)
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
