Eni Signs Angolan Gas-Development Deal

Italian major Eni said CEO Claudio Descalzi and Sonangol Chairman Francisco de Lemos Maria signed Monday a strategic agreement to co-operate in developing gas resources in Angola.

Eni and the Angolan national oil company plan to set up a joint team aimed at studying the potential of the non-associated gas present in the Lower Congo Basin – which Eni describes as a "highly promising area" in terms of hydrocarbon production located offshore Angola.

The scope of the study is to analyze the different gas valorization options both internationally and in the domestic market, where gas will have a crucial role in order to sustain the local economy. Eni said the joint Sonangol-Eni team will benefit from the Italian company's proprietary expertize and substantial experience in developing gas resources worldwide.

Descalzi commented in company statement:

"This agreement will strengthen the prolific cooperation between Eni and Sonangol, confirming Angola as one of the key countries for the company's organic growth strategy. In the coming years, Angola will become one of the most important oil and gas hubs for the sub-Saharan activities of Eni."

Have a news tip? Share it with Rigzone!
Email news@rigzone.com


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Logistics Coordinator & Optimization Analyst
Expertise: Logistics Management
Location: Billings, MT
Associate Category Manager or Category Manager Job
Expertise: Logistics Management|Purchasing|Supply Chain Management
Location: Denver, CO
Contracts Advisor
Expertise: Budget / Cost Control|Contracts Engineer|Supply Chain Management
Location: San Ramon, CA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours