The total estimated potential of these discoveries is approximately 3 billion boe, with potential for further improvement.
Per the agreement, Eni will develop business ventures to increase access to clean energy in the region and UNDP will use its extensive development network in over 170 countries to foster an enabling environment to implement the partnership and assess its sustainable impact in local communities.
The topic of the meeting was the important gas and condensates discovery that Eni has recently made in the Nyonie Deep exploration prospect, in the pre-salt Gabon’s offshore
San Donato Milanese, February 18, 2015 – Yesterday Eni’s Board of Directors approved group results for the fourth quarter and the full year 2014 (unaudited).
Growing cash generation underpins shareholder returnsE&P: leveraging on exploration success to deliver profitable growth~3% production CAGR 2014-2017, rising to ~4% 2017-2023 G&P: renegotiation of supply costs and increasing focus on premium segments 100% of supply cost aligned to market by 2016R&M: cutting refining capacity in line with new market conditionsAdditional cuts in Italian refining capacity by 2017Financial targets: Operating cashflow generation: 55% increase by 2016-2017 Value-creation from disposals: ~€9bn Capex cut: 5% reduction in investments vs. previous planProgressive shareholder distribution policy: distribution proposal for 2014 at € 1.12 per share [+1.8%]
Eni and ICS Maugeri have signed an agreement to expand their partnership in toxicological emergency research, prevention and treatment to all the countries where Eni operates.
Eni preliminary estimates the potential of Minsala Marine discovery in about 1 billion barrels of oil equivalent in place, of which 80% oil.
Eni, Vitol and GNPC signed with the President of Ghana and the Minister of Petroleum the agreement to proceed with the OCTP project. The project will provide domestic gas supply to Ghana’s thermal power plants for more than 15 years
Ochigufu 1 NFW well, which has led to the discovery, will be brought into production in record time. The well is located at approximately 150 kilometers off the coast and 9.8 kilometers from the Ngoma FPSO (West Hub) and the closeness to Ngoma FPSO allows the increase of the resource base of the West Hub project, currently underway.
Eni, through its subsidiary Eni Ghana Exploration and Production Limited, is the operator of the OCTP license with a 47.22% interest