ENI Signs Deal to Expand Oil, Gas Exploration in Congo

Posted by Joseph R. Fonseca
Sunday, July 20, 2014

Italian oil and gas group Eni said it signed a deal to explore for hydrocarbons in the Republic of Congo's coastal basin, expanding its foothold in sub-Saharan Africa's No. 4 oil producer.

At a signing ceremony in capital Brazzaville, new Eni Chief Executive Claudio Descalzi signed the deal for onshore and deep-water exploration acreage with Energy Minister Andre Raphael Loemba, the company said in a statement on Sunday.

Eni could not immediately be reached to provide any further details.

The Italian oil major, which has been active in Congo since 1968, said in February it had discovered fields with estimated reserves of 1.2 billion barrels of oil and 30 billion cubic metres of gas in Congo's Marine VII offshore block.

Geologists have drawn parallels between the West African coastline and the geology of offshore Brazil, where billions of barrels in oil reserves are tucked beneath a submerged salt layer.

Eni said it produces around 450,000 barrels of oil equivalent per day insub-Saharan Africa including Congo, Ghana, Gabon, Nigeria andKenya, among others.

Italian Prime Minister Matteo Renzi, who is on an official three-day tour of energy-rich African countries strategic to Eni's interests, was in attendance.

Renzi, who began his trip in Mozambique where Eni plans to invest 50 billion euros to build a major gas export plant, flies back to Italy from Angola on Monday.

(Reporting by Oleg Vukmanovic; editing by Jane Baird)

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

USCG Investigates Oil Slick off California Coast

The U.S. Coast Guard was investigating a large oil sheen off the California coast west of Santa Barbara on Wednesday, a spokeswoman for the agency said.   The slick,

Mexico to Postpone Deep Water Auction

Mexico, which has started to open its nationalized oil industry to additional private investment, will postpone auctions for deep-water oil exploration and production

Oregon Bridge Danglers Hope to Delay Shell's Arctic Drilling

Protestors rappelled off a bridge in Portland, Oregon on Wednesday hoping to delay Royal Dutch Shell's Arctic oil exploration this summer by blocking the return

News

Two New Hybrid RTGs for Port of Shanghai

Corvus Energy informs it will provide the battery systems for an additional two hybrid solutions for new rubber-tired gantry cranes (RTGs) that will be produced

USCG Investigates Oil Slick off California Coast

The U.S. Coast Guard was investigating a large oil sheen off the California coast west of Santa Barbara on Wednesday, a spokeswoman for the agency said.   The slick,

Puget Sound Reports Container Volume Growth

Less congestion and efficient cargo movement helped international container volumes through the Puget Sound gateway improve 14 percent in June compared to June 2014, the port reported.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1242 sec (8 req/sec)