The Chairman of Angola’s Sonangol, Francisco de Lemos Maria, and Eni’s CEO Claudio Descalzi signed a strategic agreement on future cooperation activities and joint projects in the oil and gas sector.
Under the agreement, Eni and Sonangol will set up a joint team aimed at studying the potential of the non-associated gas present in the Lower Congo Basin, a highly promising area in terms of hydrocarbon production located offshore Angola, Eni said in a statement.
The scope of the study is to analyze the different gas valorization options both internationally and in the domestic market, where gas will have a crucial role in order to sustain the local economy.
Moreover, the companies will be committed to develop projects on the mid-downstream business to be carried out in Angola.
Eni CEO Claudio Descalzi said, “In the coming years, Angola will become one of the most important oil and gas hubs for the sub-saharian activities of Eni”.
Eni is engaged as operator in the upcoming start-up of the deep water Block 15/06 West Hub project, which is due to commence by the end of 2014.
Press Release; Image: Eni