Petroleum Africa
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Tuesday, November 18, 2014
ENI and Sonangol have signed a strategic agreement to cooperate in developing Angola’s natural gas resources. The agreement was signed by ENI CEO Claudio Descalzi and Sonangol chairman Francisco de Lemos Maria.
The two firms plan to set up a joint team aimed at studying the potential of the non-associated gas present in the Lower Congo Basin. 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. ENI said the joint team will benefit from the ENI’s proprietary expertise and substantial experience in developing gas resources worldwide.
Descalzi commented in a company statement: “This agreement will strengthen the prolific cooperation between ENI and Sonangol, confirming Angola as one of the key countries for the company’s organic growth strategy. In the coming years, Angola will become one of the most important oil and gas hubs for the sub-Saharan activities of ENI.”
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