ENI Signs Deal to Expand Oil, Gas Exploration in Congo
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.
(Reporting by Oleg Vukmanovic; editing by Jane Baird)