Eni and Gazprom meet on South Stream and upstream projects

Gazprom Chairman Alexey Miller and Eni CEO Paolo Scaroni met today in Moscow to discuss the two companies’ common projects.

South Stream Eni and Gazprom confirm their full commitment to the South Stream project and their intention to complete the feasibility study of the off shore section. The two companies also agreed to accelerate the activities of their joint venture South Stream AG.

Eni and Gazprom also confirmed their support to EdF entry into the project and committed to starting negotiations with EdF.

Upstream projects Eni and Gazprom have agreed on the terms of Gazprom’s entry into the Elephant project in Libya. The detailed agreement will be finalised in the coming days and will be submitted to Libyan authorities for approval.

First production at the Samburskoye field is confirmed for 2011. Plateau production of 150,000 boepd is expected within two years of start-up.

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