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| The Saipem 10000 drillship has been used at the Zohr gas field offshore Egypt in the Mediterranean Sea. |
LONDON—Italian major Eni has taken an unconventional approach to the ongoing “lower for longer” industry downturn, achieving outstanding results by focusing on conventional oil and gas.
While many upstream companies have pulled back from conventional offshore exploration and development activity due to traditionally longer project cycles in order to focus on shorter-cycle, faster return unconventional projects, Eni has stuck to what it knows best, according to Luca Bertelli, the company’s chief exploration officer.
Speaking in London on Nov. 15 during the exploration-focused PETEX exhibition and conference, organized by the Petroleum Exploration Society of Great Britain, Bertelli told a crowd that Eni decided “to stay conventional. We did not want to follow the pack, but stay with what we know. We see many opportunities remaining.”
