Eni CEO says Kashagan project shows challenges of multi-major ventures

Published 01/10/2025, 10:00
© Reuters.

Investing.com -- Eni SpA (BIT:ENI) CEO Claudio Descalzi stated that the Kashagan project demonstrated the difficulties in managing oil and gas developments involving multiple major companies, noting such arrangements can result in higher costs and project delays.

Speaking at the Italian Energy Summit 2025 on Wednesday, Descalzi outlined the company’s liquefied natural gas (LNG) growth strategy, announcing that Eni aims to reach 20 million tonnes of LNG under contracts in its portfolio by 2029-2030.

The CEO’s comments about the Kashagan oil field, a massive development in Kazakhstan’s portion of the Caspian Sea, highlighted the operational challenges that can arise when several international oil majors collaborate on a single project.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.