October 07, 2008

Eni signs MoU with Qatar Petroleum

Eni has signed a MoU with Qatar Petroleum International to seek joint investment opportunities in international projects in the exploration and production sector. The MoU was signed on behalf of Qatar Petroleum International by Mr Abdullah Bin Hamad Al Attiyah Qatar's deputy premier and by Eni CEO Mr Paolo Scaroni.

According to the MoU, both parties will pursue opportunities of mutual interest in order to exploit new or existing resources of natural gas and crude oil. The MoU also envisages the development of joint projects in the petrochemical industry and power generation.

Mr Al Attiya Qatari energy minister said that "Today's signature marks another milestone in Qatar Petroleum's realizing our ambition of becoming a leading global energy company, a goal that depends on the development of key projects in Africa and the Mediterranean area through the cooperation with leading partners. This agreement with Eni offers new perspectives of investment, as Italy is one of the most important partner countries of Qatar."

Mr Scaroni said that "Eni is pleased to cooperate with Qatar Petroleum International on new initiatives. The development of a strong and stable relationship with Qatar, which holds the world's third largest gas reserves and plays a leading role in the LNG market, is really important to us."

The signature of the MoU with QPI for a long term partnership is consistent with Eni's strategy to re enter in Qatar. It has also opened a Representative Office in Qatar in order to foster its relationship with Qatari authorities and companies and promote a strong team work climate.