Eni, BP explore combining Angola portfolios
Angola 
LUANDA, May 19, 2021 – Eni and BP have signed an MoU to explore combining their upstream and LNG portfolios to form a joint venture in Angola.
The nonbinding agreement, announced by Eni on Wednesday, would see the super-majors’ oil, gas and LNG operations joined in a bid to find synergies and greater efficiency and support deepened investment in the Angolan upstream sector.
Last month, Reuters reported that Eni was looking to spin off its oil and gas operations in West Africa and the Middle East, creating new joint ventures in order to help decrease its debt load and aid in its shift to producing cleaner energy.
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