The Italian energy group will fund technical studies across five offshore exploration areas.
Eni signed an agreement with the government of Senegal to conduct preliminary studies and assess the energy potential of five offshore blocks. Senegal's Energy Minister El Hadji Abdourahmane Diouf announced the partnership on Tuesday, 15 September.
The Italian energy company will fund the comprehensive technical program with its own resources. The studies aim to deepen geological and geophysical knowledge across blocks SN01M, SN02M, SN03M, SN07M, and SN40M.
The initiative is part of Senegal's national strategy to resume oil and natural gas exploration and market its sedimentary basin globally. State oil company Petrosen will maintain a central role in reserve development and basin governance.
Senegal is expanding its exploration footprint significantly. Minister Diouf noted last week that the country plans to offer 109 oil and gas exploration blocks to both domestic and international investors.
Newsletter
Markets in your inbox, weekly
LATAM-focused analysis, investing ideas, and the week in finance.
Keep reading