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Eni, BP Target Final Investment Decision for Egypt Gas Project in Few Months

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Eni (E) said Tuesday it is working with project partners BP (BP) and Egyptian Petroleum to reach a final investment decision in a few months regarding the major gas discovery Denise West in Egypt's Temsah Concession.

First gas production from the field, which was discovered in April, is targeted in under two years, Eni said.

In a meeting with Egyptian President Abdel Fattah el-Sisi, Chief Executive Officer Claudio Descalzi highlighted Eni's projects in the country, which have resulted in a 50% increase in production from offshore Sinai fields and additional discoveries in offshore Nile Delta and Western Desert, according to a statement.

Price: $54.24, Change: $-0.98, Percent Change: -1.78%

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Update: Braskem Files for Out-of-Court Restructuring of Over $10 Billion in Debt

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Update: Market Chatter: Polestar Says It Was Surprised by Forced US Exit

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