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Paolo Scaroni Meets Armando Guebuza in Mozambique

Source: www.gulfoilandgas.com 8/13/2013, Location: Africa

The President of the Republic of Mozambique, Armando Guebuza, and Eni’s CEO, Paolo Scaroni, met today in Changara, mineral district of Tete Province in western Mozambique, to discuss Eni’s ongoing activities and projects in the country.

During the meeting, Paolo Scaroni, along with Claudio Descalzi, COO of Eni E&P, updated the President of the Republic on the progress of ongoing strategic projects . The tax agreement with the Mozambican authorities relating to the sale of 28.57% of Eni East Africa’s shares to China National Petroleum Corporation (CNPC) was also announced. The agreement enables the payment, as at August 23rd , of 400 million U.S. dollars and the construction of a 75 MW power plant in Cabo Delgado province.

During the visit, Eni’s sustainability initiatives in Mozambique were also discussed. Eni’s support of Mozambique’s infrastructure development, including the reconstruction of the coastal road between Palma and Pemba, along with training, childcare, health and maternity initiatives were also discussed .

Eni is the operator of Area 4 with a 50% participating interest. The other partners of the joint venture are CNPC (20%), GalpEnergia (10%), KOGAS (10%) and ENH (10%).

For more information about related Opportunities and Key Players visit East Africa Projects

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