AN Italian oil and gas exploration company could be the “new kid on the block”, if the Government of Guyana gives its approval for it to carry out exploration offshore Guyana.
ENI is a multi-national oil and gas company headquartered in Rome. It is considered as one of the world’s largest publicly owned oil and gas companies, also known as supermajor. It operates in 79 countries and is currently the world’s eleventh largest industrial company with a market capitalisation of 68 billion euros.

On Monday, Minister of Natural Resources, Raphael Trotman met the company’s Senior Vice President, Guido Zappala and his team at the Ministry of Natural Resources, where he received a packaged plan of action from the company’s representatives.
Speaking at the Department of Public Information (DPI) minutes after the meeting, Minister Trotman said the oil company had, since last year, expressed its interest to the government.

“So, we had a long discussion with them about their practices elsewhere, what they are looking for. And obviously Guyana’s basin has become attractive and they have assured us that they are not worried about the current issue between Guyana and Venezuela. They are prepared to pursue and should there be any cause for concern, they will manage.”
According to Trotman, ENI, which is partly owned by the Italian government, has an excellent track record in terms of safety and good environmental practices. The company, he said, has been lending its support to other countries, helping to develop their renewable energy capacity.

“Thirty per cent of the shares is owned by the government. So, you actually have a company that is undergirded by the government and is a main driver of the economy of Italy,” he said.
His next move, he said, will be to prepare a report to present to President David Granger for his consideration.

The company has suggested another meeting in the next two weeks. (DPI)