CEO Paolo Scaroni of Eni Plans to Invest $409m in Tunisia

01-07-2008

Paolo Scaroni of Eni is in Tunisia to talk the construction of pipelines in North Africa.

Italian energy group Eni plans to invest $409.8m in investment projects in Tunisia over the next four years. The announcement came during a meeting between ENI CEO Paolo Scaroni, Prime Minister Mohamed Ghannouchi and Industry Minister Afif Chelbi in Tunis.

Talks between the leaders focused on the Transmed gas pipeline, which will link Algeria and Sicily, via Tunisia. The men also discussed the development of two oil and gas fields in the Gulf of Hammamet and a possible extension of the Transmed contract beyond 2019.

In 2006, Eni agreed to increase the annual capacity of the Transmed pipeline by 6.5 billion cubic metres to 33.5 billion by 2012. The new projects will nearly triple ENI's investments in Tunisia from $117m in 2007 to $374m in 2008.