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Luanda (Angola), 19 May 2021 – Eni and bp announced that they have entered into a non-binding memorandum of understanding (MoU) to progress detailed discussions on combining their upstream portfolios in Angola, including all their oil, gas and LNG interests in the country.
The companies believe that combining their efforts in a new joint venture company would bring significant opportunities for them to jointly boost future developments and operations in Angola. In particular, it would be expected to generate significant synergies, create more efficient operations and increase investment and growth in the basin. The new venture would reflect both companies’ commitment to continue developing the upstream sector potential of Angola.
The new company would be supported by Eni and bp, benefitting from the competencies and personnel of each, and would be expected to be self-funded. A business plan for the company would be agreed by Eni and bp to allow it to capture future opportunities in exploration, development and possibly portfolio growth, both in Angola and regionally.
HSE performance, project delivery and production efficiency will be priority areas for the management. The companies’ social investment commitments in the country will continue to be honoured.
Eni and bp have informed the Angolan Government of their intention. Any final transaction will be subject to relevant Governmental, regulatory, and partner approvals.
The companies have appointed advisors that will support the companies in raising finance for the new joint venture.
Eni is operator of block 15/06, and exploration blocks Cabinda North, Cabinda Centro, 1/14 and soon 28 and is also operator of the New Gas Consortium (NGC). In addition, Eni has a stake in the non-operated blocks 0 (Cabinda), 3/05, 3 / 05A, 14, 14 K / A-IMI, 15 and in Angola LNG.
bp is operator of Blocks 18 and 31 offshore Angola, and has non-operated stakes in blocks 15, 17, 20, and soon 29. bp also has non-operated interests in the NGC and Angola LNG.
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
If you wish to search for a specific document, press release or news, use the traditional search engine via the magnifying glass icon.
Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
If questions are formulated that violate the set security criteria, the system will not proceed with processing the response. Please remember not to send personal data.
By using this service, the users acknowledge that they have read and accepted the terms and conditions of use.
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