Eni acquires, will operate license off Congo

Eni SPA will operate 1, 103 sq km of new exploration acreage off Congo (Brazzaville) following the signing of the new license with the Congolese authorities. The permit is 15 km offshore in 20-50 m of water.

Uchenna Izundu
International Editor

LONDON, Apr. 16 -- Eni SPA will operate 1, 103 sq km of new exploration acreage off Congo (Brazzaville) following the signing of the new license with the Congolese authorities. The permit is 15 km offshore in 20-50 m of water.

Eni said the acreage, Marine XII, has proved oil reserves, which it did not define, and potential for gas and condensates, which will be developed through an integrated gas-to-power project. Eni will build a 300/450 Mw power plant near the Djeno terminal that it said would contribute "to enhancing the power and reliability of the local electrical system."

Eni will have 90% stake in the license area and will work with Société Nationale des Pétroles du Congo, which holds the remaining 10%. The partners will shoot a 3D survey.

Eni also has increased its acreage in Brazaville through the recent acquisition of the onshore M'Boundi field and other assets for $1.4 billion (OGJ Online, Feb. 23, 2007). That deal covers Maurel & Prom's 48.6% interest in M'Boundi oil field; 66% interest in Kouakouala A oil field; 50% interest in the Kouakouala B, C, and D production concession; and a 50% interest in the Kouilou exploration permit, in which the seller will retain 15%.

Contact Uchenna Izundu at uchennai@pennwell.com

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