Eni Looks to Africa for Oil, Gas Boost

Italian energy giant Eni has stepped up high-level engagements with political leaders of key operating countries in sub-Sahara Africa in a bid to consolidate its long-term focus on Africa.

Claudio Descalzi, CEO of Eni, recently held crucial talks with Angolan President Joao Lourenco, President Denis Nguesso of Congo and Nigerian President Bola Tinubu in meetings that sources told Offshore Africa were very positive and fruitful.

Descalzi’s meeting with President Tinubu in Abuja was particularly important as the Italian supermajor sought to redefine its long-term interests in Nigeria, the continent’s top oil producer. Eni had followed in the footstep of other major IOCs in closing down its onshore operations in the Niger Delta. Abo, Bonga and Nigeria’s LNG are key projects in the West African nation.

Eni is also keen on ‘diversification’ to focus on energy transition and decarbonization. ‘These plans include assessing the potential production of agri-feedstock for Enilive biorefineries, mainly sourced from agro-industrial residues. Additionally, Eni is evaluating various nature- and technology-based projects, such as clean cooking initiatives, to offset emissions,” noted a press statement by Eni.

The company has a substantial portfolio of assets in exploration and production, with a equity production of approximately 60,000 barrels of oil equivalent per day.