Italian energy group Eni will cut its capital spending by a quarter this year, and more next, as it moves to mitigate the impact from falling commodity prices because of the coronavirus emergency.In a statement on Wednesday, the state-controlled energy major said it would cut its planned capex by about 2 billion euros ($2.2 billion) this year and by around 2.5 billion to 3.0 billion euros in 2021.It also said it would be cutting its operating expenses this year by around 400 million euros…
Italian oil services group Saipem said on Wednesday it expected higher sales this year after it beat its 2019 targets and introduced a dividend for the first time in seven years.But it warned that concerns over the impact of the coronavirus…
Italian offshore oilfield services company Saipem has activated safety measures to protect its workers, after the coronavirus outbreak in the country.According to a report by Reuters, Italy is the most affected country in Europe, with coronavirus cases rising on Saturday to more than 150…
A top Italian administrative court has asked the EU Court of Justice to rule on legislation over the size of oil and gas exploration concessions in Italy in a move that could lead to some companies being stripped of permits.Italian law currently…
Eni and partner Total are targeting drilling on Block 6 offshore Cyprus by the end of this year, the Italian major has said. It will be just nine months after the signature of the Block 6 exploration and production sharing contract (EPSC)…
The continuous circulation of drilling fluids offers many benefits, including the control of bottom hole pressure along with enhanced wellbore cleaning and stability. In the current oil market scenario, these features become crucial requirements for personnel safety…
Italian major Eni is pushing forward with its exploration efforts offshore Mexico after drilling its latest successful well and signing three new licenses won during Round 2.1 back in June. The firm also says its preparing a development…
Italian contractor Saipem has won a string of contracts worth a total US$370 million. Eni Angola has awarded Saipem additional work orders for the West Hub Development project offshore Angola. The work, which will be performed by Saipem's E&C Offshore division…
All all-Italian team is hoping to offer the offshore industry smarter and more efficient solutions, by bringing their heads together. Elaine Maslin reports. Fincantieri's Overdrill. Photo from Fincantieri…
High hopes are pinned on gas as a transition fuel and there being markets to sell it to in the gas-rich Mediterranean. Elaine Maslin reports. Maersk Discoverer drilling in Egypt's Eastern Med Sea for BP…
German wind turbine manufacturer Senvion has been appointed by Beleolico as the supplier for Taranto wind farm. Taranto will be the first offshore plant in the Mediterranean Sea, according to Senvion, with a total rated power of 30 MW from 10 Senvion turbines…
Italian offshore contractor Saipem has offered a glimpse of its remote operated vehicle (ROV)/ autonomous underwater vehicle (AUV) hybrid HyDrone. The technology, developed by Saipem's Sonsub business, has been developed to be part of…
Claudio Descalzi has been re-appointed as Italian oil firm Eni's CEO and general manager by its board of directors. Born in Milan, Descalzi has been Eni’s CEO since May 2014. He joined Eni in 1981 as an oil and gas field petroleum engineer…
Eni started up its new HPC3 (high performance computing) in the Green Data Center in Ferrera Erbognone, Italy. HPC3 allows Eni to fully support all the activities in the exploration and production sector. Together with the co-existing HPC2 system…
Australia-based explorer Po Valley Energy has been awarded a preliminary Production Concession for the 47 Bcf offshore Teodorico gas field in the northern Adriatic Sea – offshore Italy. The Teodorico gas field, within the AR94PY license area…
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