BUSINESS

Exploration: Eni to deepen involvement in Nigerian energy sector

Published

8 years ago

January 24, 2017

Sunday Ojelabi

Exploration: Eni to deepen involvement in Nigerian energy sector

The Italian energy giant, Eni, has confirmed plans to deepen its involvement in Nigeria’s energy sector by increasing oil and gas exploration and helping to restore one of the country’s ailing refineries.

This was contained in a statement by the company on Monday.

The company’s Chief Executive, Claudio Descalzi and Nigeria’s Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, met in Rome this week to sign several Memorandum of Understanding (MoU) agreements to that effect.

According to the statement, Eni will “intensify” oil and gas exploration, including at onshore sites. It will also help the petroleum ministry rehabilitate the Port Harcourt oil refinery, as Nigerian government moves towards reducing its reliance on imported oil products.

The arrangement also include plans to double power generation capacity at the 480 megawatt Okpai Independent Power Plant (IPP) in Delta state. The plant was built by Eni’s local subsidiary, Nigerian Agip Oil Company.

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Sunday Ojelabi

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