Eni e Sonangol have signed a strategic agreement to develop common projects in the sector of Angolan gas. The agreement was signed by the president of the national oil company of Angola, Francisco de Lemos Maria, and by the managing director of the Italian group, Claudio Descalzi.
Under the agreement, Eni and Sonangol will set up a joint team aimed at studying the potential of the non-associated gas present in the lower Congo Basin, a very promising area in terms of hydrocarbon production offshore Angola.
The study, conducted jointly by Eni and Sonangol, will analyze the options available for both the international and national markets. The companies will also engage in the development of projects in the mid-downstream business to be implemented in Angola.
“This agreement consolidates the prolific collaboration between Eni and Sonangol, confirming Angola as one of the key countries for the company's organic growth strategy – commented Descalzi -. In the coming years, Angola will become one of the most important oil and gas hubs for Eni's sub-Saharan activities”.
Eni has been present in Angola since 1980 with a net production of around 80 barrels of oil equivalent per day. The Italian group is also an operator in the imminent deep water launch of block 15/16 of the West Hub project, which will begin by the end of 2014.
This morning Eni's shares on the Stock Exchange opened up 0,4%, at 16,46 euros.
