OPEC Secretary General meets Eni's CEO Descalzi

OPEC Secretary General Mohammad Sanusi Barkindo with Eni's CEO Claudio Descalzi (ENI Photo)

By Joseph R. Fonseca

The OPEC Secretary General, Mohammad Sanusi Barkindo met Eni's CEO Claudio Descalzi yesterday at Eni's headquarters in San Donato Milanese, south of Milan.

The visit of the OPEC delegation, headed by Secretary General HE Mohammad Barkindo, was an opportunity to discuss the major issues facing the oil and gas sector, as well as the energy sector more generally, as well as a chance to look at the new dynamics of world energy and oil, and their impact on the markets.

The meeting allowed Eni's top management to present the company's strategy and growth prospects to the OPEC delegation, including inflections on large uncertainties for the oil and gas sector.

In particular, Mr. Descalzi focused on Eni's upstream model, based on key elements such as time to market and cost optimization from the exploration phase to the production of discovered resources.

The OPEC Secretary General expressed his appreciation for the approach followed by Eni, not only on the hydrocarbons production growth strategy adopted by the company, but also on the commitment to the development of activities related to energy production from renewable sources.

The Secretary General also paid tribute to Mr. Descalzi and his team. "They have successfully transformed Eni into an integrated international conglomerate, operating in 69 countries, that has weathered the worst oil storm," he said. "The new global dynamics of the oil industry calls for the bridging of gaps between OPEC and the IOCs," he added, "in the interest of the industry, and the global economy."

The CEO of Eni also acknowledged the positive changing face of OPEC and its great efforts towards restoring stability to the oil market on a sustainable basis.

Feb 7, 2017

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