Eni looks to Asia and this time it aims at Vietnam. The Indian company Essar Energy has sold 50% of the 114 offshore exploration block for gas in Vietnam to Eni International. The details of the agreement have not yet been disclosed, however, for it to become effective, it is necessary to await the approval of the Vietnamese government. Eni will also assume the status of operator of the block, of which Essar acquired 100% in 2007.
Essar Energy explained that further investments will be needed to establish gas reserves in the block and that at the moment, however, no gas is being produced. The block in question, 114, is located in shallow waters off the coast of Vietnam and, according to the Essar website, resources amounting to a trillion cubic feet have been discovered in the area.
One hour after the opening of the Stock Exchange, the Eni share earn 0,12% at €16,8 per share.
