ENI and NNPC Form Exploration Joint Venture

ENI and the Nigerian National Petroleum Corporation have joined together to explore deepwater Block 244 offshore Nigeria. Eni believes that Block 244 has "an interesting mining potential" and that the joint project planned both "a seismic campaign" and the drilling of two exploration wells.

ENI unit Nigeria Agip Exploration holds a 90 percent interest in the block and is the operator. Nigerian Production Development Company (NPDC) holds the remaining 10 percent.