March 3, 2009 / 9:08 PM / 10 years ago

Eni delays Alaska oil project due to slump-reports

NEW YORK, March 3 (Reuters) - Italian oil company Eni (ENI.MI) is suspending work on its $1.5 billion Nikaitchuq oil development on Alaska’s North Slope due to the slump in crude prices, according to local media reports.

The project was on track to start producing oil late in 2009 or early in 2010 but work has been halted temporarily, the reports said, quoting contractors working for the company and state officials.

A spokeswoman for Eni did not immediately comment.

Reporting by Richard Valdmanis; Editing by David Gregorio

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