Eni, PetroSA sign MOU on cooperation

Eni SPA and state-owned Petroleum Oil & Gas Corp. of South Africa (PetroSA) have signed a memorandum of understanding for cooperation in upstream projects in South Africa and elsewhere.

By OGJ editors
HOUSTON, June 6
-- Eni SPA and state-owned Petroleum Oil & Gas Corp. of South Africa (PetroSA) have signed a memorandum of understanding for cooperation in upstream projects in South Africa and elsewhere.

According to a press release, “The parties will evaluate the eventual acquisition by either party of participating interests in upstream projects for the development of both conventional and unconventional hydrocarbons. Moreover, the parties will evaluate the opportunity to participate jointly in projects in other African countries.”

The MOU also has a provision that would allow Eni to supply crude and oil products to South Africa.

The companies will evaluate the leasing of an oil storage facility at Saldanha on South Africa’s west coast and study long-term LNG supply by Eni to PetroSA.

More in Companies