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Eni to See `Negligible' Impact From Halt of Italian Oil Field

  • Operations will probably be resumed: Fidentiis analyst
  • Val d'Agri field production is about 75,000 barrels a day

The shutdown of Europe’s largest onshore oil field over alleged illicit waste disposal at a nearby treatment plant will probably only have a “negligible” effect on Eni SpA’s earnings because Italy often allows operations to resume during probes, said Giuseppe Rebuzzini, an analyst at Fidentiis Equities SV SA.

“I would assume in a matter of days or a few weeks, Eni might restart using the oil treatment plant and consequently might restart production in the Val d’Agri field,” said Rebuzzini, highlighting the economic importance of the operation in Italy’s southern region of Basilicata.