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Eni and Korea Gas Corp. sign cooperation agreement

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Oilfield Technology,

Claudio Descalzi, Eni CEO, and Hee-bong Chae, Korea Gas Corporation President and CEO, have signed a Memorandum of Understanding (MoU) to identify specific cooperation opportunities in different areas such as exploration and production (E&P) projects, LNG projects, downstream and infrastructure projects and in particular circular economy and low-carbon energy projects.

The two companies have been cooperating in E&P over the past decade in Africa, the Middle East, South-East Asia and the Mediterranean, such as during the Mozambique Area 4 project and the Iraq Zubair project.

“By signing this MoU with Eni, we shared the strong willingness of both companies to lead the era of low-carbon and eco-friendly energy. Our strong relationship can settle the basis for a new business with the aim of the second Mozambique Area 4 and Iraq Zubair project, which represents the new energy era,” said Chae.

Descalzi said: “As Eni wants to play a decisive role in the process of energy transition towards a low-carbon future, this collaboration is in line with the direction we want to follow to ensure sustainable growth. This MoU fits our culture based on integration, efficiency and a constant focus on technological innovation and research, which has allowed Eni to enhance the assets in a different way.”

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