Eni Signs Three Agreements with Angola's Sonangol

Source: www.gulfoilandgas.com 2/9/2009, Location: Africa

Eni has signed the first three agreements pertaining to the Memorandum of Understanding jointly signed in August 2008 with Angola's state oil company Sonangol. The MoU set out the principles and objectives for a cooperation model between the two companies encompassing the economic, industrial and social development of Angola.

The first agreement is for a study that addresses the utilization of Associated Gas feeding a new onshore Power Plant. The aim is to enhance Angola's energy infrastructure and industrial activities while respecting its environment. The second agreement foresees a joint study that evaluates areas of the highly prospective Angolan onshore basins and their production potential for further upstream sector initiatives.

Finally, the third agreement focuses on the strategic implementation of educational projects and training of Angolan professionals with the aim of implementing the energy initiatives contained in the MoU.

The signature of these agreements 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 deep water Block of 15/06.


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