Fabrizio Bolondi, vice-chairman and managing director of Nigerian Agip Exploration and Agip Energy and Natural Resources, talks to The Energy Year about Eni’s deepwater growth pipeline.
Nigerian Agip Exploration and Agip Energy and Natural Resources are Eni subsidiaries for oil and gas exploration and production in Nigeria.
- Nigeria’s upstream investment case is improving, particularly in deepwater acreage, as regulatory reforms and fiscal incentives are helping to reduce costs and shorten project timelines.
- Deepwater developments will be central to Nigeria’s production growth, with projects such as Zabazaba-Etan and Bonga North promising large resource volumes and showing strong potential for fast-track development.
- With gas monetisation a strategic priority for Nigeria and new liquefaction capacity under construction on Bonny Island, a growing and reliable supply of feed gas will be essential to supporting domestic consumption and boosting export revenues.
What opportunities is Nigerian Agip Exploration pursuing in Nigeria’s upstream, and have you set production targets for 2026 and 2027?
Eni’s equity production in Nigeria currently stands at approximately 55,000 boepd, reflecting a solid and resilient base supported by continuous optimisations of operated assets. Within this framework, the recent production increase at Abo contributes to a broader trajectory of stable and progressively growing output, in line with Nigeria’s ambition to reach 2.5 million bopd by 2027.
Looking ahead, Eni expects to maintain a growing production profile, leveraging both optimisation initiatives and the progressive maturation of its deepwater portfolio. In this respect, the advancement of key projects such as Zabazaba–Etan and Bonga North is expected to provide significant production upside, and the recent award of the PML 102, PML 103, PPL 2011 and PPL 2012 represents an important milestone that reflects the constructive and forward-looking collaboration between Eni and Nigeria.
The mutually satisfactory resolution of all outstanding matters and the conversion of the licence into development and exploration assets support a renewed focus on unlocking the potential of deep offshore resources. Overall, the agreement provides a solid foundation for long-term investments, as Eni continues to see substantial opportunities in Nigeria’s upstream sector, particularly in deepwater, where the combination of resource potential, improved fiscal conditions and Eni’s fast-track development capabilities creates a compelling investment case.
How is the expansion of Nigeria LNG (NLNG) with the construction of Train 7 progressing, and how will it contribute to advancing objectives under the Decade of Gas initiative?
Eni has a 10.4% participating interest in NLNG and continues to play a role in supporting the expansion of liquefaction capacity on Bonny Island and the broader growth of Nigeria’s gas sector. Train 7 will increase NLNG’s capacity from 22 million tonnes per year (tpy) to around 30 million tpy, and represents a key milestone for Nigeria’s rising position in the global LNG market.
As a long-standing and reliable gas supplier to NLNG, Eni contributes to Nigeria’s gas targets by sustaining upstream capabilities and ensuring a consistent delivery of feed gas. More broadly, Eni’s engagement across the gas value chain supports the expansion of export capacity, furthering the country’s ambition to monetise more of its vast gas resources.
Eni has commended NUPRC’s reforms and deepwater tax incentives. What are the key remaining challenges for IOCs in Nigeria’s upstream?
Eni acknowledges the significant progress made by Nigerian authorities in improving the investment environment, including the implementation of the Petroleum Industry Act and the introduction of the presidential directives to enhance local content efficiency. These measures, together with deepwater fiscal incentives, are important steps toward increasing the competitiveness of Nigeria’s upstream sector, reducing project costs and shortening contracting timelines.
While some areas remain subject to further improvement, the overall direction is positive, and reforms are already bringing renewed industry interest and are expected to support the development of new projects. In this context, Eni remains committed to working closely with stakeholders to unlock the full potential of Nigeria’s oil and gas resources in a mutually beneficial manner.
After more than 60 years in the country, what are the main elements of Eni’s Nigeria strategy until 2030?
Eni’s strategic vision in Nigeria for the 2026–2030 period is centred on four pillars. First, the company will continue to maximise the performance of its existing operated production assets, securing further value from its established production base.
Second, we will pursue growth in deepwater production, leveraging our distinctive capabilities in fast-track project development. The Zabazaba and Etan fields, which are estimated to hold more than 500 million barrels of reserves, will be key elements. That project envisages an FPSO with a production capacity of approximately 150,000 bopd, with associated gas volumes of up to 200 mcf [5.7 mcm] at peak to be exported through NLNG.
In parallel, Eni will advance Bonga North, a tie-back project with estimated resources of around 300 million boe and expected peak production of about 110,000 bopd, which we are targeting to bring on stream in 2027.
Third, Eni will continue strengthening its role in the gas segment and increase its involvement in the gas value chain, utilising deepwater resources for momentum. Fourth, Eni will keep sustainability and decarbonisation in focus, improving operational efficiency and reducing emissions in line with its commitment to achieve net-zero emissions by 2050and net-zero Scope 1 and Scope 2 upstream emissions by 2030.