RAPALLO, Italy – (Reuters) – Italy’s oil and gas major Eni <ENI.MI> is in the process of reducing its stakes in its oilfields in Mexico and Indonesia, Chief Financial Officer Massimo Mondazzi said on Thursday.
“We define our strategy as “dual exploration”: we normally start with a very high stake in a field and then reduce it through an ongoing process. “ Mondazzi said, speaking on the sidelines of a conference.
He added that the group has done it in the past with its Mozambique and Egypt oilfields “and will continue to do so in the future”.
(Reporting by Giancarlo Navach; writing by Francesca Landini)