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Eni Got Environment Ministry Permission to Drill in Adriatic

By Adam L. Freeman

May 6 (Bloomberg) -- Eni SpA, Italy’s biggest oil company, and a partner got permission from the country’s Environment Ministry to drill for natural gas in the Adriatic Sea.

The ministry approved the development plan for the Guendalina field in the northern Adriatic, partner Mediterranean Oil & Gas Plc said today in a statement posted on the London Stock Exchange Web site. Eni has 80 percent of the project while Mediterranean Oil has the remainder.

The Industry Ministry is now expected to grant final approval for the concession in the next quarter, with engineering work beginning in September and drilling in the second half of next year, the statement said.

Production should start at the end of next year.

To contact the reporter on this story: Adam L. Freeman in Rome at afreeman5@bloomberg.net

Last Updated: May 6, 2009 11:11 EDT

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