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BUSINESS MEETINGS AND AGREEMENTS

SUSTAINABILITY

Eni and the Government of Mozambique strengthen cooperation for sustainable development and decarbonisation

The Minister of Mineral Resources and Energy of Mozambique Ernesto Max Tonela and Eni Chief Executive Officer Claudio Descalzi signed a Memorandum of Understanding for the definition of sustainable development and decarbonisation projects.

Maputo (Mozambique), 7 October 2019 – The Minister of Mineral Resources and Energy of Mozambique Ernesto Max Tonela and Eni Chief Executive Officer Claudio Descalzi signed a Memorandum of Understanding for the definition of sustainable development and decarbonisation projects. The signing took place in Maputo in the presence of the President of the Republic of Mozambique Filipe Nyusi.

The Memorandum provides for the cooperation between Eni and the Government of Mozambique in the definition of joint initiatives to support the country’s National and Local Economic and Social Development Agenda. These initiatives will be defined within the framework of the United Nations Sustainable Development Goals (SDGs), and the Nationally Determined Contributions (NDC) undertaken by each country to reduce national emissions and adapt to the impacts of climate change as part of The Paris Agreement

Areas of cooperation include emissions reduction, fostering conservation and sustainable management of forests, and enhancement of forest carbon stocks, in the framework of REDD+ initiatives. The initial objective is the protection of 1 million hectares of forests, which will allow to offset the future CO2 production from Eni’s projects in the country. Other initiatives will refer to access to energy (SDG 7), industry, innovation and infrastructure development (SDG 9), sustainably managed forests (SDG 15), action on climate change and environmental impacts (SDG 13), access to education and training (SDG 4, 8), economic diversification (SDG 8), access to water (SDG 6) and access to health (SDG 3).

These agreements extend the scope of Eni's activities in Mozambique and strengthen its presence in the country.

Eni has been present in Mozambique since 2006, with the acquisition of a participation interest in the Area 4 oil exploration concession, deep offshore the Rovuma basin, in the north of the country. Between 2011 and 2014, Eni discovered supergiant natural gas resources in the Coral, Mamba Complex and Agulha reservoirs, holding estimated 2,400 billion cubic metres of gas in place.

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