Iraqi oil minister, Jabbar Ali Hussein Luaibi, met Eni's CEO Claudio Descalzi yesterday in Baghdad.
During the meeting, Eni's CEO had the opportunity to outline Eni's ongoing activities in the country, also in light of the recent results of the development of the Zubair field, where production has grown by more than 100% since 2015. The project, carried out by Eni together with Basra Oil Company (BOC), marked the rapid development of one of the largest oil fields in the southern region of Basra.
Furthermore, Claudio Descalzi updated Minister Luaibi on the progress of the works on the new 380 MW power plant, in the final stages of construction. The plant will generate electricity for the Zubair field and for internal consumption in the Basra Governorate.
Claudio Descalzi and Minister Jabbar discussed the further increase in Zubair's production, future opportunities and investments in development that would further strengthen the relationship between Eni and the country. In fact, Eni's CEO confirmed Eni's commitment to the Upstream sector in Iraq and its support for the country through various initiatives.
Eni's CEO and the Minister of Oil discussed, among other things, the social projects currently underway in the Governorate of Basra in the sectors of health care, education - through the construction, among other things, of a secondary school for 900 students and renovation of existing school facilities with the aim of reaching 77 schools in the next 4 years - access to energy, with the expansion of the power plant, and drinking water, with the rehabilitation of drinking water treatment plants, as well as new initiatives in the agricultural sector, which will allow the creation of jobs and the development of the local economy.
Finally, the CEO of Eni discussed the potential synergies related to energy projects in Iraq, a strategic lever for the country in maximizing the use of national natural resources through the integration of projects within the entire value chain of the energy and doubling the country's production in a limited period of time.
Eni has been present in Iraq since 2009, where it operates through its subsidiary Eni Iraq BV, and with the development of the Zubair Field Development Project (Eni 41,56%, Kogas 23,75%, BOC 29,69%, Missan 5%) the company has become one of the major Iraqi players in the sector. Currently, Eni operates 475.000 barrels of oil equivalent per day in the country.