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Eni, BP in talks to combine upstream assets in Angola

20 May 2021 (Last Updated May 20th, 2021 16:39) Italy’s Eni and BP are in negotiations to merge their oil and gas businesses in Angola. Share Article Italy’s Eni and British oil major BP have initiated talks to club their oil, gas and LNG assets in Angola. According to the non-binding memorandum of understanding (MoU), the two firms will explore merging their interest in a new joint venture (JV) company. The companies expect the new JV to bring significant opportunities to jointly boost future developments and operations in the country. In a press statement, Eni said: “In particular, it would be expected to generate significant synergies, create more efficient operations and increase investment and growth in the basin.”

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