Andre Raphael Loemba News

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.