Shortly before the markets opened, Eni announced that it had started production at the Kitan oil field, between East Timor and Australia. The oil company operates the site in a joint venture, of which it owns 40%, together with Inpex Timor Sea (35%) and Talisman Resources (25%). Shortly after the start of trading, the company gained 1,3% in Piazza Affari.
“The development of the Kitan field – reads the note – strengthens Eni's growth plans in the region in the wake of the recent asset acquisitions in the Australian offshore, the latest important discoveries in the Indonesian offshore, where Eni intends to replicate the success of Kitan, and of the company's unconventional gas initiatives in Indonesia and China”.
