Eni Enters Portuguese Upstream

Italian oil and gas group Eni has acquired from Petrogal a 70 percent stake in three offshore exploration permits in Portugal, it said on Thursday, as it seeks to diversify its exploration portfolio.

 

In a statement Eni said the permits, known as Gamba, Santola and Lavagante, give it rights as operator over an unexplored area of 9,100 square kilometers in offshore Portugal.

 

The permits were awarded to Petrogal, a unit of Galp Energia , in 2007 by the Portuguese state, it said.