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Eni, Kogas Unveil Three Treatment Plants in the Zubair Field

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Eni SpAE , together with Kogas, has unveiled three new generation plants for the treatment of oil, gas and water (Initial Production Facilities) in the Zubair field, Southern Iraq.

The oil and gas treatment capacity of the new plants, when combined with that of the existing, restructured and modernized plants, takes the total capacity to about 650 thousand barrels per day. The three new plants are located in the area of Hammar, Zubair and Rafydia.

Hammar has four trains with a total capacity of 200 thousand barrel per day, while Zubair and Rafydia each have a total capacity of 50 thousand barrels per day. Production and exportation at Hammer and Zubair have already commenced but will begin at Rafydia by the end Mar 2016.

With a water injection capacity of about 300 thousand barrels per day, these plants are vital for boosting hydrocarbons production at Zubair, thereby facilitating the maximum utilization of related gas.

Located near Bassora, in southern Iraq, Zubair is operated by Eni on behalf of the Iraqi state company - South Oil Company ("SOC"). Currently, the field produces about 360 thousand barrels per day. Over the next few years, a yield of 850 thousand barrels per day is expected.

The production and development activities will be carried out on the basis of a Technical Service Contract. The current production level at Zubair is twice that at the start of the contract.

Eni forayed into Iraq in 2009. In 2015, the equity production was about 40,000 barrels of oil equivalent per day.

Eni carries a Zacks Rank #5 (Strong Sell). Some better-ranked players from the energy sector are SolarEdge Technologies, Inc. SEDG , Braskem S.A. BAK and Enviva Partners, LP EVA . Each of these stocks sports a Zacks Rank #1 (Strong Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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