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Italian giant enters SA exploration deal

Milan - Eni has agreed to buy a 40% interest in an exploration permit granting rights to explore an offshore area of 82 000km² off South Africa's east coast for hydrocarbons, the Italian oil and gas group said on Tuesday.

Eni sealed the deal with Sasol Petroleum International, the upstream oil and gas subsidiary of Sasol, it said in a statement without disclosing any financial details.

Sasol had been granted the permit by the Petroleum Agency of South Africa (Pasa) in late 2013 and the accord is subject to government approval.

The deal "reinforces Eni's position on the East Africa coast, where Eni is already present with exploration activities in Mozambique and in Kenya," the group said in a statement.
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