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Eni saw its overall output rise by 10% to 1.760mn barrels per day of oil equivalent (boe/d) in 2015, a neat trick given a 3% cut to capital spending. The largest single gain, some 126,000 boe/d, came in Libya, a 53% rise.
Most of Eni’s Libyan output is gas and most is from offshore fields that have been largely unaffected by the chronic instability that has wracked the country over the last five years. The company’s Libyan gas output – almost all of Libya’s total gas output – rose by 67% in 2015 to a record 1.52bn cfd, some 32% of Eni’s total gas output (see table and chart 1).
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