Eni, Angola's Sonangol Sign Energy Cooperation Deal

Eni and Angola's Sonangol have signed a deal to cooperate in the field of oil and gas.

Under the agreement, the two companies will set up a joint team aimed at studying the potential of the non-associated gas present in the Lower Congo Basin offshore Angola.

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 Monday. 

Moreover, the companies will be committed to develop projects on the mid-downstream business to be carried out in Angola.

“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”, 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".