CEO of Italian energy company Eni, Claudio Descalzi said Eni reducing oil production in Libya by 160,000 barrels per day is not a prelude to the company’s departure from the North African country.
In a presentation of the company’s strategy for the next four years, Descalzi said on Friday Eni has a plan to reduce the current oil production in Libya from 320,000 bpd to 200,000, noting that the Italian energy giant “was unable to establish new projects in Libya the last eight years.”
The Italian company produces oil and gas in Libya in partnership with the National Oil Corporation (NOC).
