Thursday, June 24, 2021

    Eni enhances energy cooperation with NNPC

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    Babatunde Akinsola
    Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

    Eni, the holder of a 10.4 percent stake in the Nigeria LNG project is looking to strengthen its partnership in the African country.

    Nigeria’s minister of state for petroleum resources and chairman of the board of the Nigerian National Petroleum Corporation (NNPC), Emmanuel Ibe Kachikwu met with Eni’s CEO Claudio Descalzi in Rome.

    Eni said in its statement, that through its units Nigerian Agip Oil Company (NAOC) and Nigerian Agip Exploration (NAE), it had signed a memorandum of understanding with NNPC to promote new activities that can boost Nigeria’s social and economic development.

    Regarding the upstream sector, oil and gas production operations will intensify with an increased focus on development and exploration activities in the onshore, offshore and Ultra Deep Water operated areas, the statement reads.

    Concerning the refining sector, the parties agreed to cooperate for the rehabilitation and enhancement of Port Harcourt refinery.

    In the power generation sector, the two companies intend to enhance the access to energy by doubling the power generation capacity in Okpai IPP through the fast track development of its Phase II, making it one of the largest combined cycle power plants in Africa.

    Finally, the MoU sets the basis for the assessment of the electrical national grid reliability and of most efficient renewable energy projects, to secure energy accessibility in the country’s most remote areas.

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