Eni Inks Cooperation Agreement with Pakistan to Enter Hydrocarbon Fields

Eni has signed a Protocol for Cooperation with the Government of Pakistan aimed at developing new, important projects in the upstream, midstream and downstream sectors in the country.

The agreement further strengthens relationships between Eni and Pakistan, as it makes available exclusively to Pakistan state oil companies the capabilities, the know how and the innovative technologies developed by Eni in the oil sector, especially in terms of efficiency in exploiting hydrocarbon fields. The agreement also enables Eni to become a strategic partner in developing the oil & gas sector in Pakistan and to enter fields which are so far managed by state-run oil companies.

The opportunities will be identified during the first 6 months from the signature of the agreement through meetings between representatives of Eni and Pakistan state oil companies. Signing this memorandum of understanding represents a further step in Eni's strategy to identify and implement projects able to enhance its reserve portfolio thus consolidating its leadership among IOCs in the oil & gas sector.

Eni has been present in Pakistan since 2000 and ranks first among IOCs in the country in terms of exploration and production of gas. The company is also the first player in the offshore exploration with cutting edge technologies and holds an overall portfolio of 21 licenses. These include 14 exploration licenses (3 offshore and 11 onshore) and 7 production licenses, in 3 of which Eni is operator.