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Eni SpA signs strategic agreement with KazMunayGas

Thursday, 12 Jun 2014 08:08am EDT 

Eni SpA:Says it signed a strategic agreement with KazMunayGas (KMG).Says the agreement will result in KMG and Eni each holding 50 pct of exploration and production rights in Isatay, an offshore exploration area located in the north Caspian Sea.The block is estimated to have potential oil resources and will be operated by a joint operating company.The agreement also involves the development of a shipyard project in Kuryk, located on the Caspian Sea coast of the Mangystau region.The shipyard will be managed by a project company which will be formed by Eni and KMG. 

Company Quote

-2.81 -6.69%
28 Nov 2014