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    Eni boosts natural gas production


    July 29, 2022 - Trend News Agency

     

      BAKU, Azerbaijan, July 29. Natural gas production by Italian Eni company was 4,447 mmcf/d in the second quarter of 2022, up 2 percent year-on-year (up 1 percent compared to the first half of 2021), Trend reports via the company.

      Production ramp-ups in Indonesia and higher production in Algeria, the UK and Italy were partly offset by reductions in Libya and Nigeria.

      In the second quarter of 2022, hydrocarbon production averaged 1.58 million boe/d (1.62 million boe/d in the first half of 2022), down 1 percent compared to the second quarter of 2021 (down 2 percent compared to the first half of 2021). The decrease was due to unplanned outages, such as force majeure at the CPC export pipeline affecting our volumes in Kazakhstan, plant shutdowns in Libya due to a resumption of internal clashes, and rising sabotage and oil thefts in Nigeria.

      Net of those events, price effects and the progressive easing of OPEC+ production quotas (particularly in the United Arab Emirates), production increased by 1 percent year-on-year (essentially unchanged compared to the first half of 2021). Production was supported by ramp-ups in Indonesia, in a context of strong global demand for LNG, as well as by higher activity levels in Algeria and Angola, while Italy and the UK benefitted from a lower maintenance activity compared to 2021.

      Liquid production was 740 kbbl/d in the quarter, down 5 percent year-on-year (down 5 percent compared to the first half of 2021). The reduction in Kazakhstan, Nigeria and Libya was partly offset by production growth in Angola, Algeria and Italy as well as the progressive easing of OPEC+ production quotas.

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      Follow the author on Twitter: @Lyaman_Zeyn

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