Italian oil and gas supermajor Eni, together with its partner Vitol, has signed a Memorandum of Intent (MoI) with Ghana’s national oil company, GNPC, to invest $1.5 billion in the upstream sector.
PACC Offshore Services (POSH) has selected design and engineering consultancy Longitude as a subcontractor to deliver marine hook-up operations engineering for the installation of the Republic of Congo’s landmark FLNG project – the Nguya FLNG.
Eni-BP joint venture Azule Energy will invest $5 billion in Angola over the next five years and drill 18 wells, with two-thirds operated by the company, according to a Reuters report on Wednesday. The spending is comparable to Azule’s outlays since the JV launched in 2022 and centers on sustaining output from core offshore assets.
Eni SPA has launched a production vessel and is readying another as part of the Congo LNG Project, the country’s first natural gas liquefaction project, in the Marine XII concession offshore the Republic of Congo.
The FPU will be deployed northwest of the Djeno Terminal, offshore the Republic of Congo, at a depth of approximately 35 metres.
Eni CCUS currently encompasses the Liverpool Bay and Bacton projects in the UK, the L10 project in the Netherlands and has the option to participate in the Ravenna CCS project in Italy – cornerstone assets aimed at decarbonizing industrial clusters. The agreement also grants Eni CCUS the right to participate in potential future projects related to Eni’s depleted oil and gas fields once the relevant regulatory and market conditions allow. Over time, the Eni CCUS platform is expected to expand further, unlocking new business opportunities and reinforcing its contribution to decarbonization efforts.
Ghana’s oil and gas sector is showing clear signs of resurgence, underscored by Eni’s recent declaration of commerciality for the Eban-Akoma complex in the Cape Three Points Block 4.
While crude prices were lower in the second quarter — weighing on earnings at other European oil companies — Eni has been buoyed by a cost-reduction program introduced earlier this year, while asset disposals brought down debt.
Ghana’s oil and gas sector is showing clear signs of resurgence, underscored by Eni’s recent declaration of commerciality for the Eban-Akoma complex in the Cape Three Points Block 4. Estimated to hold between 500 and 700 million barrels of oil equivalent, the find marks the country’s largest offshore discovery in years and lies adjacent to Eni’s existing Sankofa production hub, allowing for rapid and cost-efficient development.
Venture Global and Itay’s Eni today announced the execution of a new Sales and Purchase Agreement (SPA) for the purchase of 2 MMtpa of liquefied natural gas (LNG) from CP2 LNG, Venture Global’s third project, for 20 years.