BP and Eni in Angola JV talks
The companies are considering combining their oil, gas and LNG assets in Angola into a new joint venture
The two firms have entered into a non-binding MOU to continue the talks. The companies say that a joint venture would create “significant synergies, create more efficient operations, and increase investment and growth in the [Angolan] basin”, while also showing their shared commitment to Angola’s “upstream potential”. The proposed JV would be backed by Eni and BP but also expected to be self-funded, with the goal of pursuing exploration and possible portfolio growth “both in Angola and regionally”. Research firm Welligence Energy Analytics estimates the JV’s combined portfolio at around 250,000bl/d, which would make them Angola’s second largest producer behind state-owned Sonangol. The com
Also in this section
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy