Italy’s Eni is delaying plateau production from Iraq’s Zubair oilfield by close to a decade as part of a programme of reducing expenditure on large projects amid low oil prices.
Eni is also aiming to reduce its stake in the project in southern Iraq.
“We are in negotiations in Iraq, where we want to dilute and achieve top rates not later this decade but in the middle of the next decade,” Eni chief executive Claudio Descalzi said.
Eni
