Statoil ASA and Tullow Oil Plc are finishing a well aimed at achieving the first commercial oil discovery in Mozambique, the East African country where explorers have made the century’s largest natural gas finds.
Eni SpA , Italy’s biggest oil company, hasn’t experienced output disruptions in Egypt due to political unrest, Claudio Descalzi , the company’s head of exploration and production, told Sky TG24 in an interview today.
Extractions at the Kashagan field will start at the end of 2012 or in the following months at the latest, Claudio Descalzi , head of exploration and production for Eni SpA told Il Sole 24 Ore in an interview.
Eni SpA’s third-quarter profit beat analyst estimates as gains from recovering Libyan output after its civil war countered 909 million euros ($1.2 billion) in charges Italy’s largest oil company posted mainly from gas.
BP Plc and Royal Dutch Shell Plc, Europe’s biggest oil companies, aim to resume exploration in Libya, whose new government seeks to stabilize relations with foreign companies following the ouster of Muammar Qaddafi.