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Business meetings and agreements | Upstream

Eni acquires from Sasol a 40% interest and operatorship in an offshore exploration block off South Africa’s east coast

10 June 2014 - 10:45 AM CEST
 

San Donato Milanese (MI), 10 June 2014 – Eni has concluded an agreement with Sasol Petroleum International,  the upstream O&G subsidiary of Sasol Limited, to acquire a 40% interest and Operatorship in the Exploration Right permit 236 (ER236) in South Africa. The permit  grants the right to explore for hydrocarbons on a wide offshore unexplored area of 82,000 sqkm  on South Africa’s east coast (Durban and Zululand basins),  Kwazulu-Natal province. The permit was granted to Sasol by the South African regulator Petroleum Agency of South Africa (PASA) in late 2013.

The agreement, which is subject to Government approval, reinforces Eni’s position on the East Africa coast, where Eni is already present with exploration activities in  Mozambique and in Kenya.

The Farm-in agreement forms part of a wider cooperation between Sasol and Eni in Southern Africa  and other areas, mainly focused on maximizing opportunities in the gas value chain. 

Download the press release (PDF)

PDF 40.09 KB 10 June 2014 CEST 10:45
PDF 40.09 KB