Eni ‘Mission Impossible’ Points to Seismic Shift for Big Oil

The quick turnaround from discovery to production hasn’t gone unnoticed in the industry. It represents a seismic shift for Big Oil.  The fact even senior managers privately described the plan as “Mission Impossible” showed the scale of the task: Italian energy giant Eni SpA wanted to produce gas from the Zohr field little more than two years after finding it in August 2015. But this week, the Mediterranean’s largest gas field — lying about 200 kilometers (168 miles) off the Egyptian coast — began pumping, defying skeptics both inside and outside the company. “We presented our development plan to Egypt’s minister after two weeks,” Chief Executive Officer Claudio Descalzi said in an interview in Port Said, the dusty town three hours from Cairo where the gas arrives on the Egyptian mainland. “Nobody believed what we were going to do, analysts said we were crazy; now we can […]

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