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February 21, 2019
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ENI Set to Double Investment in Nigeria
The Chief Operating Officer of ENI Exploration and Production Division worldwide, Mr.Claudio Descalzi has reaffirmed the commitment of ENI to redouble its investment in Nigeria oil and gas industry. With regards to the ongoing discussions on the Petroleum Industry Bill the Eni head appreciates the approach adopted by the Nigerian Government in engaging and listening to the views of the companies and other stakeholders. He is confident the Federal Government will take the opportunity to elaborate the reforms to safeguard investments in the sector.

He emphasized that, notwithstanding the global economic crunch in 2008, Eni has taken the decision to invest in the Oyo project together with its Nigerian partner, Allied Energy Plc and achieving completion within 20 months. He confirmed that the company is investing, in a significant way, in flaring down projects aiming at Zero flaring in the Land Area of Naoc JV operations in the coming months.

Speaking while on a working visit to the Nigerian National Petroleum Corporation in Abuja, Mr. Descalzi informed of the readiness of his company to invest more in brass LNG and the power plant.

Mr. Descalzi stated that one of the ways the Federal Government amnesty programme could be sustained was through the creation of job opportunities for ex- militants and other youths in the Niger Delta that are skilled in oil and gas field.

“My main message to you is that we are ready to invest in Brass LNG and for the second phase of the Independent Power plant in Kwale Okpai, I want to reassure you that we are ready to start work and we will be part of the financing of the project,” Mr. Delcalzi declared.

Responding, the Group Managing Director of the NNPC, Dr. Mohammed Sanusi Barkindo lauded ENI for its multi-million dollar investment in Nigeria in the past few decades and assured of the safety of their investment even in the post PIB era adding that the contributions of stakeholders into the PIB was a clear demonstration of democracy in action.

“We consider you as a very important partner and despite the uncertainties being expressed about the bill, we are confident that the future holds a lot for us. We want to grow the oil and gas industry in Nigeria to international standard and we are confident that within the shortest possible time the legislative process will be completed,” Dr. Barkindo asserted.

The GMD described the ENI power plant as a success saying that power is central to the Federal Government and to Nigerians as it has the propensity to stimulate economic activities across the various spectrum of the society.

In March 2007, Eni signed a Production Sharing Contract with Nigerian National Petroleum Corporation, NNPC, concerning the “OPL 135” exploration license. The area is located in the north-east of the Niger Delta, a short distance from the Kwale/Okpai treatment plants.

The agreement allows for strong co-operation with the Nigerian partners both in the operative and technical management of the activities, with the objective of supporting the development of local competencies and resources. The PSC has an effective duration of 25 years: the first five years will be devoted to the exploration phase and the following twenty to the development and production phase.
comment @ Sunday, March 02, 2014 8:55 PM
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