Italian oil firm Eni has clinched a deal to become operator of a block in Angola and take on 48% equity.
Eni previously held 15% of the onshore Cabinda North asset.
Eni chief executive Claudio Descalzi and Sonangol chairman Carlos Saturnino signed the agreement today.
Eni has been present in Angola since 1980 through its subsidiary Eni Angola. Equity production amounts to 155,000 barrels of oil equivalent per day.
Recommended for you
Read the latest opinion pieces from our Energy Voice columnists
- So, you think that you know all there is to know about Christmas?
- Opinion: Economic reality is set to box Mario Draghi into a corner
- Opinion: The perfect time to show some spirit for the North Sea
- Opinion: Invest, innovate, initiate in 2018
- Opinion: The Arctic threat to Saudi Arabia’s grand oil bargain