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Eni Acquires Six New Exploration Licenses in Gabon

Source: www.gulfoilandgas.com 12/26/2008, Location: Africa

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Eni has acquired six high-potential new exploration licenses in Gabon, with an overall surface area of over 8,000 square kilometres. Two licences, D3 and D4, are located in the prolific north Gabonese basin, in conventional waters, whereas the remaining four, namely E2, F3, F4 e F7, are located in the promising onshore basin. All the licenses have been attributed for a first explorative phase lasting 4 years, renewable for two further periods of 4 and 3 years respectively.

The agreement signed with the Gabonese government represents a further application of the so-called "Eni co-operation model" in the West Africa region, integrating sustainable activity in the territory with the traditional business of hydrocarbon exploration and production.

The technical and operational investments planned in Gabon, aimed at enhancing energy resources in the country, will then be supported by initiatives for local communities and projects for training and research and development.

This renewed presence of Eni in Gabon consolidates and strengthens its position in Sub-Saharian Africa. Eni conducts operations of Exploration and Production in Angola, Congo, Nigeria and Mozambique, reaching in the West Africa area an overall production of about 350,000 b/d, with participations in important projects onshore as well as offshore.

Eni was present in Gabon from 1987 to 2004. The country has a population of about 1.5 million people and currently produces 240,000 barrels of oil.

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