Eni to operate Cabinda North

LUANDA, November 27, 2017 – Eni has signed a deal with Sonangol to operate the Cabinda North block onshore Angola, the Italian major announced on Monday.

Eni’s share in the licence will also increase to 48%, the company said in a statement. The price tag of the agreement was not disclosed.

The signing ceremony in Luanda, attended by Italy’s Prime Minister Paolo Gentiloni and Angola’s President João Gonçalves Lourenço, marked one of the first deals struck by Sonangol’s new president Carlos Saturnino after the ouster of Isabel dos Santos on November 15.

Saturnino and Eni CEO Claudio Descalzi also signed an MoU on co-operation across the entire value chain, with a focus on offshore gas resources, the press release added.

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