MOSCOW (MRC) -- Italian oil and gas group Eni is keen to strengthen ties with Russia's Rosneft and could forge a partnership in the liquefied natural gas (LNG) sector, reported Reters with reference to its chairwoman.
In May this year, Eni extended a cooperation agreement with Rosneft to explore the Russian Barents Sea and the Black Sea, and consider further opportunities together.
"We are discussing a series of projects ... and are talking for a possible partnership in LNG," Emma Marcegaglia said at an energy conference.
Eni, which in recent years has uncovered around 115 Tcf of gas in Mozambique and Egypt, said earlier this year it was looking to develop its LNG business worldwide.
The state-controlled major recently sold a 30% stake in its giant Zohr gas field in Egypt to Rosneft and the Russian energy giant has an option to buy a further 5%.
Speaking at the same conference, Rosneft CEO Igor Sechin said the Russian company was happy with its investment in Zohr.
"We are looking positively at the matter to realize this option," he said.
Sechin said Rosneft would start drilling activity with Eni, and Italian oil service group Saipem, in the Black Sea at the end of December.
Eni has three licences with Rosneft in the Black Sea and Barents Sea.
As MRC wrote before, in May 2017, Rosneft and Eni S.p.A. entered into a Cooperation extension agreement in the areas of upstream, refining, marketing and trading during the visit of an Italian delegation to Russia. The Agreement provides for the development of cooperation between Rosneft and Eni in Russia and abroad in the following areas: exploration and production of hydrocarbons, refining, trading, logistics, marketing and sales, petrochemicals, technology and innovation. The document reinforced the previous agreements between the two companies, specifically in offshore to drill exploration wells as part of joint projects in the Black and Barents seas.
Rosneft became Russia's largest publicly traded oil company in March 2013 after the USD55 billion takeover of TNK-BP, which was Russia’s third-largest oil producer at the time.
MRC