UPDATE 2-Edison to invest 750 mln euros in Abu Quir field

* Edison CEO expects to win Abu Quir bid

* Edison CEO says will invest 750 mln euros in Abu Quir

* Edison CEO says could consider domestic acquisitions

(Adds comments from conference call)

MILAN, Nov 12 (Reuters) - Italian power generator Edison SpA (EDN.MI) expects to announce it has won the bid for developing Egyptian gas field Abu Quir in a couple of weeks, Edison Chief Executive Officer Umberto Quadrino said.

"I am confident the contract will be awarded to us," Quadrino said in a conference call on Wednesday with analysts. Edison wants to boost its gas portfolio to sell to retail customers and use in its Italian domestic power plants.

Quadrino said Edison will offer a stake of around 25 percent in the project to a partner. The overall investment for the project will be around 1 billion euros with Edison itself stumping up around 750 million euros ($946.8 million), he said.

An Edison spokesman said developing the field will require further investments totalling around 1 billion euros in the next few years.

Asked if the partner in Abu Quir could be one of Edison's shareholders, Quadrino said he could not exclude any hypothesis but added he was not authorised to give out any names.

Edison, Italy's second-biggest utility in terms of market value, is controlled by France's EDF (EDF.PA) and Italian regional utility A2A SpA (A2.MI).

According to estimates, the Abu Quir field reserves could amount to between 1 trillion cubic feet (tcf) and 2.5 tcf.

Quadrino said Edison intended to keep a sound financial position so that it would be in a position to capture any growth opportunities that might come along.

He said possible acquisitions were not just in the exploration and production field but could include operations on the Italian market which, he said, is destined to consolidate further.

"If there is consolidation, we are ready to participate," he said. Italy's smaller municipal utilities are currently engaged in talks on consolidation to obtain critical mass to compete on the European energy markets.

Quadrino said Edison has a committed credit line of 1.5 billion euros with a competitive spread to Euribor and does not intend to tap the bond market.

Debt at the end of the year is expected to be slightly below 3 billion euros compared to the 2.821 billion euros at the end of September, an Edison executive said.

Quadrino said the company did not intend to delay any capex programmes in 2009 on account of the financial crisis.

The company said capex for 2008 would be in line with the previous year.

In the third quarter Edison posted an 80 percent rise in net profit to 117 million euros, helped by a better power sales mix.

Edison said it expected its full-year operating results, "assuming a comparable scope of consolidation," to be in line with the previous year.

Soaring power prices have boosted profits for utilities across Europe [nLC127281].

Earnings before interest, tax, depreciation and amortisation (EBITDA) reached 400 million euros, up 9.3 percent from the previous year. (Reporting by Stephen Jewkes; Editing by Andrew Macdonald, Leslie Gevirtz)