BREAKING NEWS: Descalzi on selling down ENI’s stake in Mozambique: “We could do it or not do it”

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(2015-09-15) Italian oil and gas group Eni is in no rush to sell down its controlling stake in its giant Mozambique gas field, CEO Claudio Descalzi said on Tuesday.

“We’re under no pressure to do it. We’ll do it if we can do it well… We could do it or not do it,” Descalzi said on the sidelines of a conference at the EU parliament.

Eni, which two years ago sold 20 percent of the Mozambique Area 4 field to China’s CNPC for $4.2 billion, owns 50 percent of the prospect.

At its last strategy meeting, Eni said it was looking to sell a further stake some time before the end of 2016.

Source: Reuters

Photo: File / Claudio Descalzi, ENI’s CEO

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