Holding steady: Eni chief executive Paulo Scaroni
Eni standing firm in Iran
Italian oil major Eni will not abandon its contracts in Iran, chief executive Paolo Scaroni said today, despite growing pressure by Western governments on companies to avoid doing business with the Islamic Republic.
"We are there with very old contracts and we continue to fulfill our obligations," Reuters reported Paolo Scaroni told reporters at an energy conference in Rome. "We cannot do it in any other way."
Washington last month tightened its long-standing sanctions on Iran in a fresh attempt to pressure the Islamic Republic to cease its uranium-enrichment programme, which the West fears could be used to develop nuclear weapons.
Iran says its nuclear programme is for peaceful purposes.
US companies are prohibited by law from working in Iran and sanctions also allow Washington to punish foreign companies that invest more than $20 million in the Opec member's energy sector, although this is rarely put into practice.
French oil group Total last month said talks with Iran over new investments in natural gas fields were no longer very active after the French government urged French companies not to invest there.
Executives at Anglo-Dutch supermajor Shell have also said the oil major has pulled back its activities in Iran - which included talks on the multi-billion Pars liquefied natural gas project - after US politicians criticised the proposed deal.