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Eni Signs Exploration and Production Agreement for Gambia Block A1

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Eni S.p.A (E) signed an exploration, development, and production agreement for the offshore Block A1 area in The Gambia, the company said Friday.

The agreement, signed with The Gambia's Ministry of Energy and Petroleum, grants Eni rights to explore and develop the offshore block, according to the company.

Block A1 covers about 1,300 square kilometers and spans water depths ranging from 1,250 meters to 3,300 meters in a hydrocarbon-bearing region along the Atlantic margin, Eni said.

Eni said the award supports its strategy of building a geographically diversified exploration portfolio across proven, emerging and frontier regions with significant resource potential.

Price: $53.80, Change: $-0.61, Percent Change: -1.12%

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