Eni

Disputes that closed the plant 8 years ago are now resolved, said Italy’s Eni.

The two oil companies will spend more than $400 million to find targets in the expansive offshore area that is currently the subject of the world’s largest 3D survey.

The Italian oil and gas major has taken on a 20% stake in the first two phases of the project, which ultimately will be run by Equinor.

Modules for the FPSO will travel to Singapore for integration. The FPSO will be located offshore Mexico, with first oil production planned for 2021.

Eni plans to reuse depleted hydrocarbon reservoirs in Liverpool Bay to permanently store CO2 captured in northwest England and North Wales.

The sale of Chevron’s interest in the IDD project is part of its cost-cutting measures.

The company is creating two new business groups: Natural Resources, focused on developing the upstream oil and gas portfolio sustainably, and Energy Evolution, dedicated to supporting the evolution of the company’s power generation, product transformation, and marketing.

The Italian oil company has redesigned its dedicated portal for suppliers. The company’s Supplier Portal and Collaboration Environment, which it calls eniSpace, is a platform combining communication, collaboration channels, and open innovation instruments with traditional procurement processes.

The Damietta LNG plant is expected online by June 2020. The plant will be owned by ENI, EGAS and EGPC.

The Italian oil and gas company has found its second big well offshore Mexico and is setting its sights on several more in the near future.