May 31, 2018 / 10:24 AM / 3 months ago

Eni in process of reducing stakes in Mexico, Indonesia oilfields: CFO

RAPALLO, Italy - (Reuters) - Italy’s oil and gas major Eni is in the process of reducing its stakes in its oilfields in Mexico and Indonesia, Chief Financial Officer Massimo Mondazzi said on Thursday.

FILE PHOTO: The logo of oil company Eni is pictured at San Donato Milanese near Milan February 5, 2013. REUTERS/Stefano Rellandini/File Photo

“We define our strategy as “dual exploration”: we normally start with a very high stake in a field and then reduce it through an ongoing process. “ Mondazzi said, speaking on the sidelines of a conference.

He added that the group has done it in the past with its Mozambique and Egypt oilfields “and will continue to do so in the future”.

Reporting by Giancarlo Navach; writing by Francesca Landini

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