Eni planning to invest heavily in African oil and gas

According to Reuters, Eni is planning to invest approximately €20 billion in Africa in the next four years; most of which will be invested in oil and gas.

Claudio Descalzi, the CEO of Eni, reportedly said “In the long-term we are going to invest much more to develop the giant gas fields that we have found.”

Recently, Eni has made several gas discoveries, particularly in Egypt and Mozambique. In February 2016, Eni received approval from the Government of Mozambique’s Council of Ministers for its floating LNG (FLNG) development plan for the Coral discovery, which is located 80 km offshore of Palma bay, Mozambique.

Reuters also reports that Descalzi said that the company would begin production at the Zohr gas field (offshore Egypt) by the end of 2017.

Edited from various sources by David Rowlands

Read the article online at: https://www.lngindustry.com/liquefaction/15042016/eni-planning-to-invest-heavily-in-african-oil-and-gas-2294/