Eni Boosts Kazakhstan Footprint, Will Look For Oil In Caspian Sea Block

Eni Inks Cooperation Deal With China's CNPC

Eni (NYSE:E) earlier announced the signing of new strategic cooperation agreements for upstream and renewable energy sources in Kazakhstan.

The most significant contract renews the transfer of 50% of the hydrocarbons exploration and subsoil-use rights in the Isatay block of the Caspian Sea; the block, which is believed to have significant resource potential, will be operated by a joint venture formed by Eni and Kazakhstan oil producer KMG.

Separately, Eni said it carried out its first shipment of liquefied natural gas produced for the Indonesian domestic market from the deepwater Jangkrik field.

By Carl Surran, SA News Editor