There is no future for companies that work only in oil and gas in the medium- to long-term, the head of Italian major Eni said on Oct. 18.
"Diversification into renewable energy and the circular economy is crucial," Claudio Descalzi told financial daily Il Sole 24 Ore in an interview.
Asked about interest in Eni from France's Total, Descalzi said he did not know if the French major or other companies were interested in the company.
"For sure, nobody will be able to touch us without the green light from the Italian government," he said.
Eni is more than 30% owned by the Italian state.
Success in those projects would result in its reserve base reaching 3.7 billion barrels over the next seven years and help Woodside expand production by 6% a year over the next decade, the company said.
Output at the largest formation, the Permian Basin of Texas and New Mexico, is expected to rise 57,000 bbl/d to 4.73 MMbbl/d.
Plans are for the well, which was drilled into two untested fault blocks east of the Cashima Field, to be completed by the end of November, the company said.