Eni S.P.A. (NYSE:E)
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5 Years : From Mar 2013 to Mar 2018
Eni SpA (E), Italy's biggest energy company by market value, said Friday the SeverEnergia joint venture began producing natural gas in Western Siberia as oil majors tap into the hydrocarbon-rich Russian market.
SeverEnergia is a venture between Eni, which has a 30% holding, Enel SpA (ENEL.MI), which owns a 19% stake, and Russia's OAO Gazprom Neft (SIBN.RS) and OAO Novatek (NVTK.RS), each with a 25.5% stake.
The initial gas and liquids production at the Samburskoye field in the Western Siberian district of Yamal-Nenets is 43,000 barrels of oil equivalent a day, Eni said.
The gas produced will be sold to Gazprom, while Eni will retain the buy-back and marketing rights on the Russian domestic market, it said.
The condensates will be destined for foreign markets.
-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; firstname.lastname@example.org