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Eni has delivered an excellent set of operating and financial results despite a weakening scenario. This was driven by a resilient E&P result that featured a recovery in hydrocarbon production and very strong gas and LNG performance. There was also a steady contribution from biorefineries, the commercial network and continued growth from Plenitude and Power meaning the Company recorded €4.6 billion of adjusted EBIT and €2.9 billion of adjusted net profit.

Libya’s crude oil production remains well below its 3 million bpd peak in the 1960s, but the country’s National Oil Company has plans to almost double production within three to five years

Here’s a roundup of the latest E&P headlines including a new well coming online and new contract awards in the upstream oil and gas industry.

Italy’s oil major Eni looks to boost offshore gas production in Libya with a new $8 billion agreement

Eni, an Italian oil and gas firm, has signed an $8 billion offshore gas development deal with state-owned Oil Corporation of Libya (NOC).