London

ENI aims to up output 4% yearly 2013-2016

56.8 bn euros in investments planned

ENI aims to up output 4% yearly 2013-2016

London, March 14 - ENI aims to increase oil and gas production by 4% each year between 2013 and 2016, the Italian fuels group said in a strategic plan presented to analysts Thursday. A previous plan saw annual growth of 3%. The group aims to invest 56.8 billion euros, up 1.6 billion on the previous plan. The new projects should boost production by 700,000 barrels daily by 2016. It sees divestments of 10 billion euros over the four years including natural gas infrastructure unit Snam.

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