Eni Enters the Upstream of Portugal

Source: www.gulfoilandgas.com 12/18/2014, Location: Europe

Eni has finalised with Petrogal, a wholly owned subsidiary of the Portuguese company Galp Energia operating in the upstream oil & gas, the farm in agreement for the acquisition of a 70% stake and operatorship of the Gamba, Santola and Lavagante permits. The agreement will guarantee the exploration rights for an unexplored area of 9,100 square kilometers in offshore Portugal.

The exploration permits were awarded to Petrogal in 2007 by the Portuguese State.

The agreement is part of Eni’s strategy aimed at diversifying and expanding its exploration portfolio.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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