Angola: Sonangol Completes MoU with ENI to include Biofuels
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Friday, 22 August 2008 |
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Eni SpA has signed a memorandum of understanding with Angola's
state-owned parastatal Sonangol. Manuel Vicente, the chairman of
Sonangol, and Eni CEO Paolo Scaroni signed an MoU last week outlining
the principles, objectives, and timing of a cooperation plan between
the two companies.
The plan outlined the economic, industrial, and social development of Angola. ENI said that the MoU covers a variety of development activities including oil projects, facility upgrades, and biofuels production. The company says it “will operate in a certain area carrying out different initiatives in the energy, social, industrial, and educational fields, as well as in other projects (National Content), as contribution to the country's industrial development,” according to the Eni model.
ENI is looking into alternative energy opportunities. Scaroni and COO Claudio Descalzi have been on an African tour in search of opportunities in all sectors. ENI has been present in Angola since 1980 and has a current equity production of approximately 130,000 barrels of oil equivalent per day.
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