"We see no reason to think we cannot return to full production capacity before June 2012. We are already satisfied we have recouped 80 percent of production," Scaroni said in an interview with Il Sole 24 Ore.

Eni is Libya's largest foreign oil producer.

Scaroni said an agreement on the renegotiation of long-term gas contracts in Algeria had been reached and will be finalised shortly.

"Talks with Gazprom (on take-or-pay gas contracts) are not easy but I am confident of an outcome by the first few months of next year," he said.

Scaroni said all measures had been taken to fulfil the terms of Europe's third energy directive as regards gas transportation subsidiary Snam Rete Gas.

"At this point we can look at this important asset without any prejudice. We can imagine a disposal providing we are able to extract best value," he said.