Eni, Papua Govt. Shake Hands on Developing Energy Sector
Today, Eni and the Independent State of Papua New Guinea signed a long term partnership agreement to pursue a shared vision for sustainable development of Papua New Guinea's hydrocarbon resources.
Under the agreement, Eni will open a local office in the country to perform a detailed exploration study and outline a data acquisition program for the unlicensed or unexplored areas within the country, in order to better determine the remaining hydrocarbon potential of Papua New Guinea. The data and the outcome will be the property of Papua New Guinea and Eni will have the first option to identify areas of interest.
Eni is also interested in engaging with local communities in Papua New Guinea to jointly explore opportunities for developing oil and gas projects that can be expeditiously brought on stream. The agreement also covers the promotion of social projects related to new infrastructure, power generation and technical support for the development and use of alternative and existing renewable forms of energy such as geothermic, hydro and solar power.
In addition to the above, Eni is committed to promoting the sustainable development of the Independent State of Papua New Guinea, supporting the creation of a Trust Fund for Future Generations and ensuring training initiatives to enhance local technical and managerial competencies on oil and gas.
The Prime Minister Sir Michael Somare, who met with Eni CEO Paolo Scaroni, was happy with the discussions and welcomed Eni as a long term partner in the sustainable development of the natural resources of Papua New Guinea.
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