Subscribe to FDD

ENI

Italy

 

 

 

In January 2012, Reuters reported that Iran confirmed that it still owed ENI $2 billion worth of oil cargo that according to an official at NIOC, "based on the buyback contracts, this amount will be paid off to this Italian company"  (Reuters, January 9, 2012).

In June 2012, ENI announced that is would continue taking Iran's repayment crude oil despite the EU embargo against Iranian crude oil, according to Reuters. The company was granted an exemption (Reuters, June 13, 2012).

Date: April 1999 – Unclear

Deal: The U.S. Energy Information Administration reported that in April 1999, Iran awarded ENI a 38.25% stake to develop the offshore Balal field with Total and Bow Valley (U.S. Energy Information Administration, August 2004).

Date: 2000 - 2005

Deal: According to Rigzone, ENI signed a contract with Iran to develop phases 4 and 5 of South Pars. ENI held a 60% share of the project with Petropars and the Naftiran Intertrade Company splitting the remaining shares (Rigzone, October 28, 2004). In April 2005, ENI issued a press release announcing that it had successfully completed the two South Pars phases (ENI Website, accessed May 18, 2010).

Date: 2001 - April 2010

Deal: Arabian Oil & Gas reported that in 2001, ENI signed $550 million deal with NIOC to develop the first two phases of the Darkhovin oil field (Arabian Oil and Gas, May 22, 2009). According to the GAO, the 2001 contract was worth $1 billion (GAO Report, March 23, 2010). Reuters reported that initial phase of the oil field became operational in 2005 (Reuters, January 13, 2008).

In May 2009, Arabian Oil & Gas reported that ENI signed a $1.5 billion deal with Iran to develop phase 3 of the Darkhovin oilfield (Arabian Oil and Gas, May 22, 2009). The report noted that once the third phase is complete, oil production at Darkhovin is expected to reach 260,000 barrels a day.

In April 2010, Reuters reported that ENI announced that it was handing over the Darkhovin oilfield to local partners to avoid U.S. sanctions (Reuters, April 29, 2010).

The company's 2009 Annual Report notes that the Darkhovin (also known as Darquain) was the "sole ENI-operated project in the country" (ENI Annual Report 2009).

U.S. Business Ties:

According to USASpending.gov, ENI has received $328,562,729 in U.S. contracts from the Department of Defense from 2001 to 2012 (USASpending.gov, accessed July 15, 2014).

Last Updated: August 20, 2014