Italian energy company Eni and Angola’s national oil company Sonangol have strengthened their working relationship with a new agreement to explore gas fields in the Angolan Basin of the Lower Congo, with a view to providing gas for the domestic market, according to a report from agi.it.
The new deal was agreed at a meeting in Rome on Wednesday between Eni CEO Claudio Descalzi and Sonangol chairman Francisco de Lemos Maria.
The arrangement is intended to boost electricity supplies in the African nation while supporting the national economy. The project could generate up to 1.5 GW of electricity for domestic use.
The two parties are aiming to complete evaluation of the fields in the coming months, but they did not give a specific dates.
The Lower Congo Basin on Africa’s west coast covers 115,000 square km from the Republic of Congo to Angola.
Oil output represents 40% of Angola’s gross domestic product and over 95% of export revenue, according to Reuters.