Eni, Sonangol to Jointly Evaluate Angolan Onshore Basins for E&P Potential
Eni has signed an agreement pertaining to the Memorandum of Understanding jointly signed in August 2008 with Angola's state oil company Sonangol.
The agreement foresees a joint study that evaluates areas of the highly prospective Angolan onshore basins and their production potential for further upstream sector initiatives.
The signature of this agreement represents a first major step in reaching targets set out by the MOU and further strengthens the long-lasting strategic cooperation between Eni and Sonangol.
Eni has been present in Angola since 1980, has currently an equity production of approximately 140,000 barrels of oil equivalent per day and is engaged, as Operator, in an important exploration campaign in the deepwater Block of 15/06.
Operates 12 Offshore Rigs
- Eni Bets Big on Zohr Explorer Finding New Treasure (Oct 06)
- Eni Inks Cooperation Deal With China's CNPC (Sep 13)
- Italy's Eni Confident Of Dividend Even With Lower Oil Prices (Jul 28)
Company: Sonangol more info
- Buyers Eye Sinopec's Argentina Oil Assets in Sale Worth Up to $1B - Sources (Oct 09)
- US Oil Firm Cobalt Files For Arbitration Against Angola For $2B (May 12)
- US Firm Cobalt Threatens Arbitration Over Angolan Oil Assets (Apr 03)