25-08-09 ENI, Italy's biggest energy company by revenue, agreed on a joint venture with oil trading firm Vitol Holdings as part of its efforts to expand its presence in sub-Saharan Africa, Chief Executive Paolo Scaroni said.
"We have decided to expand our reach thanks to a joint venture with Vitol in Ghana after a large discovery of a few months ago," ENI's CEO told on the sidelines of a conference in the Northern Italian town of Cortina. In Ghana, Vitol has interests in the Offshore Cape Three Points and Offshore Cape Three Points West permits.

Since the start of August Scaroni has been meeting top officials of some sub-Saharan African countries, including Ghana, Uganda and Congo as part of its efforts to position itself in promising new oil countries.
"I have found our presence is accepted," said Scaroni, referring to his recent trips to African countries. Earlier, ENI said its production in the region amounts to about 450,000 barrels of oil equivalent a day.

In the Democratic Republic of Congo (DRC), the company has recently signed a deal giving it access to acreage in the Cuvette Basin. In Uganda the company is looking to solidify a partnership with the government.
ENI is also reportedly on Tullow Oil's shortlist of possible partners for the development of its reserves in the East African country.