Eni to Sell Mexican Oilfield Stake to Qatar Petroleum
December 17 2018 - 3:14AM
Dow Jones News
By Patrick Costello
Eni SpA (ENI.MI) said Monday that it is selling a 35% stake in
its Area 1 offshore oilfields in Mexico to Qatar Petroleum (QP.YY)
as part of a wider strategic partnership with the Qatari
state-owned energy company.
Eni said it will continue to be the operator of the oilfields
following the sale, which requires the authorization of Mexican
authorities.
Production at the Area 1 oilfields in expected to launch in
mid-2019 with an initial production plateau of 8,000 barrels of oil
per day, according to Eni. Production at the oilfields should
increase to 90,000 barrels per day by early 2021, it said.
Write to Patrick Costello at Patrick.Costello@dowjones.com
(END) Dow Jones Newswires
December 17, 2018 02:59 ET (07:59 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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