By the OGJ Online Staff
HOUSTON, Dec. 20 -- Italian company ENI SPA signed a production-sharing agreement with Nigerian National Petroleum Corp. for Block 244 off Nigeria.
ENI affiliate Nigeria Agip Exploration operates the block with 90% interest and partner Nigerian Production Development Co. owns the remainder.
The companies plan to conduct a seismic survey and drill two exploration wells.
Block 244 is 200 km south of the Brass terminal in 1,500-3,000 m of water.
"This initiative represents a further opportunity to consolidate ENI's activities in Nigeria," said ENI. The company is working on a series of projects to exploit Nigerian associated gas reserves, including gas liquefaction plants and power generation plants.
ENI has been operating in Nigeria since 1962 and has hydrocarbon equity production of 110,000 b/d.