Offshore staff
MILAN, Italy -- Eni has signed an assignment agreement for exploration license (Marine XII) offshore Brazzaville, Congo. The contract area covers 1,103 sq km (426 sq mi) about 15 km (9.3 mi) off the Congolese coast in 20-50 m (66-164 ft) water depth.
As part of the agreement, Eni will operate the license with a 90% stake in partnership with Société Nationale des Pétroles du Congo (SNPC), which holds the remaining 10%. The signing of the agreement also enables the start of the exploration campaign through a 3D seismic survey, the company says.
Marine XII has proven reserves and significant potential for gas and condensates, Eni says, noting that the company is committed to developing this potential through an integrated gas project.
The project will include constructing a 300/450-MW power generating plant to be built near the Djeno terminal as stipulated in the Protocole d'Accord signed on May 17, 2006. This project is part of Eni's sustainability strategy and contributes to enhancing the power and reliability of the local electrical system, Eni says.
The Marine XII agreement and the recent acquisition of the M'Boundi field represent further progress in Eni's growth in Congo, the company says.
Eni has been involved in exploration and production activities in Congo since 1968, with an overall investment amounting to $4 billion. Eni's daily equity production totals 67,000 boe.
4/17/2007
