May 31, 2018 / 10:24 AM / 6 months ago

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

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

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.

“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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