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Milan - Italian oil and gas giant Eni said on Monday it has signed a cooperation agreement with South Africa’s state-owned oil company PetroSA as it seeks to expand its footprint in Africa.
Eni, the world’s No 7 listed oil company in terms of output, is one of the largest operators in Africa where it produces about 1 million of its daily 1.8 million barrel output.
Under a oemorandum of understanding, Eni and PetroSA will evaluate acquisitions of stakes in upstream projects for the development of both conventional and unconventional hydrocarbons, Eni said.
In January Eni and PetroChina agreed to study joint opportunities to expand operations in conventional and unconventional hydrocarbons in Africa.
Eni, which until now has not been present in South Africa, could supply crude oil and refined products to the South African market, it said. The two groups will also study liquefied natural gas (LNG) imports and the potential for long-term LNG supplies by Eni to PetroSA, Eni said.
Eni is the biggest foreign oil operator in Libya, where production has ground to a halt because of the uprising against strongman Muammar Gaddafi.
Eni, the world’s No 7 listed oil company in terms of output, is one of the largest operators in Africa where it produces about 1 million of its daily 1.8 million barrel output.
Under a oemorandum of understanding, Eni and PetroSA will evaluate acquisitions of stakes in upstream projects for the development of both conventional and unconventional hydrocarbons, Eni said.
In January Eni and PetroChina agreed to study joint opportunities to expand operations in conventional and unconventional hydrocarbons in Africa.
Eni, which until now has not been present in South Africa, could supply crude oil and refined products to the South African market, it said. The two groups will also study liquefied natural gas (LNG) imports and the potential for long-term LNG supplies by Eni to PetroSA, Eni said.
Eni is the biggest foreign oil operator in Libya, where production has ground to a halt because of the uprising against strongman Muammar Gaddafi.
