ENI signs oil and gas cooperation deal with Pakistan

Italian oil major ENI has signed a cooperation agreement with Pakistan aimed at developing major new projects in the country's upstream, midstream and downstream sectors, the company said.
The agreement also allows ENI to become a strategic partner in developing the oil and gas sector in Pakistan and to enter fields which are currently managed by state-run oil companies.

ENI said investment opportunities will be identified during the first six months from the signature of the agreement through meetings between representatives of ENI and Pakistan state oil companies.
"Signing this memorandum of understanding represents a further step in ENI's strategy to identify and implement projects able to enhance its reserve portfolio thus consolidating its leadership among IOCs in the oil and gas sector," ENI said.

ENI has been present in Pakistan since 2000 and is the leading international company operating in the country in terms of exploration and production of gas. The company is also the leading player in offshore exploration and holds an overall portfolio of 21 licenses.
These include 14 exploration licenses (3 offshore and 11 onshore) and 7 production licenses, 3 of which ENI operates.