A cross-check can be made by using the reserves figure for the field that ENI's publicity has consistently given as 150 million barrels of oil equivalent. 1PJ = 171,937 boe (Santos). Therefore 144.3 MMBOE (150 less the 5.7 MMB condensate) converts to = 839.3 PJ. That figure only gives ENI 89.2 uncommitted PJs. That is a leeway of 10.6%. I do not think ENI would take the chance.
You are well researched and have an excellent depth of industry knowledge, but I cannot understand why Eni would not want to double their output/income. every thing becomes cost effective when the market is in play
CTP Price at posting:
9.5¢ Sentiment: None Disclosure: Not Held
