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It said the deal would increase its proven reserves by 30 percent.
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Eni currently has 7 billion barrels of proven reserves, he added.
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Investment will focus on sites with proven reserves, moving away from riskier exploration.
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It also possesses the fourth-largest proven reserves of natural gas in the world.
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TNK-BP accounts for just under a fifth of BP's proven reserves.
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Romero said proven reserves will also increase during the administration.
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But most oil majors' proved reserves only amount to about a decade of current production.
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This would include fields that had proven reserves but where no production was taking place.
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Proved reserves are the strictest calculation of oil and gas that can be commercially extracted.
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With 115bn barrels of proven reserves, occupied Iraq is where the prize still ultimately lies.
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South Sudan has 7 billion in proven reserves, the country's energy minister Stephen Dhieu Dau said.
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Current rules limit disclosure to only proved reserves.
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Iraq's proven reserves, at 115 billion barrels, are the world's largest after Saudi Arabia and Iran.
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The estimates are less certain than proven reserves.
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Proven reserves are a key measure of an oil company's value and an indicator of growth potential.
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Under the old rules, companies booked proved reserves, or the recoverable oil and gas from known reservoirs.