#Angola #Country Updates #News #Upstream Oil & Gas News

ENI, bp to Merge Angolan Assets into JV Company

In pursuit of increased growth and investment, Italy’s Eni and British multinational oil and gas company bp on Wednesday signed a non-binding memorandum of understanding to advance discussions on combining their oil, gas and LNG interests in Angola.

Both companies believe that combining efforts in a new joint venture company would bring significant new opportunities by driving synergies, creating more efficient operations and increasing investment and growth.

The new company – which will be self-funded – will be supported by Eni and bp and will outline future opportunities in exploration, development and, possibly, portfolio growth, both in Angola and regionally.

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Source: EnergyCapitalPower

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