Italian Eni partners Algeria’s Sonatrach for research, development and decarbonization sectors

ALGERIA – Eni, an Italian multinational oil and gas, has strengthen its partnership with Sonatrach, the national state-owned oil company of Algeria, with new agreements in the exploration and production, research and development, decarbonisation and training fields. These agreements mark a further step forward in strengthening the partnership between the two companies. The first of the agreements signed aims to implement an ambitious program for the relaunch of exploration and development activities in the Berkine basin region and provides for the creation of a gas and crude oil development hub…

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Oil and gas major Eni closes agreement to revive Egyptian liquefaction plant

EGYPT – Eni, a multinational oil and gas company, has announced that it has closed the agreement it signed in December 2020 with its Egyptian and Spanish partners to revive the Damietta liquefaction plant. The deal, which it signed with the Arab Republic of Egypt (ARE), the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS) and the Spanish company Naturgy will enable it to restart the 7.56 billion cubic meters per year Damietta liquefaction plant. The agreement will settle Union Fenosa Gas and SEGAS’s outstanding disputes…

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ExxonMobil postpones final investment decision on Rovuma LNG project once again

MOZAMBIQUE – American multinational oil and gas corporation Exxon has postponed for the third consecutive year the Final Investment Decision on the natural gas exploration project in Mozambique, putting the US$30 billion investment in doubt. According to Bloomberg news agency, which quotes the company’s Senior Vice President Neil Chapman, during a conversation with analysts, there is no forecast on when the investment decision will be made on the natural gas plant in the Rovuma basin, as the oil company needs to secure power supplies from the neighbouring plant operated by…

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Total to press on with Mozambique LNG project in spite of insurgency

MOZAMBIQUE – Total intends to continue its major gas project in Mozambique despite the armed insurgency that has plagued the country since 2017 as it trusts the authorities to ensure its safety, in return for a solid financial contribution. Armed insurgency has been targeting the central government in Maputo in the Cabo Delgado province, where most of the major gas discoveries have been made in recent years. The insurgency is led by al-Shabab, a group that pledged allegiance to the Islamic state in 2019 and who is increasing attacks in…

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Italian energy company ENI signs agreement to restart LNG plant in Damietta

EGYPT – Italian energy company ENI has signed a series of agreements with its partners to restart the liquefied natural gas (LNG) plant in Damietta by the first quarter of 2021 and for the amicable settlement of disputes related to Union Fenosa Gas. Agreements were signed with the Egyptian government, the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS) and the Spanish company Naturgy. This comes with what ENI is describing as the “amicable settlement” of disputes of Union Fenosa Gas and SEGAS with EGAS and…

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