ENI of Italy and Angola’s Sonangol sign strategic agreement

18 November 2014

Oil companies ENI and Sonangol signed a “strategic agreement” to develop joint projects in the gas sector in Angola, reinforcing the Italian group’s activity in Angola, according to a statement issued Monday.

The agreement, signed by the chairman of Sonangol, Francisco de Lemos Maria and the chief executive of ENI, Claudio Descalzi, also provides for analysing options for the “recovery” of gas production in Angola, in the domestic market and for export.

“The joint Sonangol/ENI team will benefit from ENI’s experience in developing gas resources around the world,” the Italian group said in the statement.

The ENI group gave assurances that this agreement is another step in its long-term relationship with Angola, which is an essential country for business development in that region of the African continent.

The Italian oil company has been in Angola since 1980 and currently produces about 80,000 barrels of oil per day. (macauhub/AO)