Tuesday, 17 August 2010

Eni acquires 55 per cent of Ndunda block, in the DRC

Eni has entered the Democratic Republic of Congo (DRC) by signing an agreement with Surestream Petroleum to acquire part operatorship of the Ndunda block, in the Bassin Côtier, located in the onshore Lower Congo Basin.

The partnership is divided between Eni (55 per cent), Surestream (30 per cent), State-owned company COHYDRO (8 per cent) and Ibos (7 per cent). The agreement, sanctioned by DRS authorities, follows the Strategic Cooperation Agreement, signed August 2009, between Eni and the DRC to develop the country's hydrocarbon sector.

Through this acquisition, Eni further strengthens its presence in the Sub-Saharan region where it currently operates in Nigeria, Gabon, Congo Brazzaville, Angola, Ghana and Mozambique with overall production in excess of 450,000 b/d.

To find out more about Eni please visit Eni's web site, which you can find here.

For more news and expert analysis about the Sahara region, please see Sahara Focus.

© 2010 Menas Associates

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