Eni will invest $3 billion in Congo over the 2008-11 period, generating an expected equity production of 150 million barrels of oil equivalent.
Through its co-operation with Eni, the Republic of Congo is seeking to maximize its own potential as a major energy producing country and is trying to become a benchmark in Africa, in the tar sands and biofuels field, as a further benefit of food farming development.
Eni has reached an agreement for the exploration and exploitation of non-conventional oil in tar sands in the Tchikatanga and Tchikatanga-Makola areas of Congo. According to preliminary studies, recoverable reserves are estimated at between 2.5 billion barrels unrisked and 500 million barrels risked.
The memorandum of understanding on the Food Plus biodiesel project outlines a framework for collaboration in the use of vegetable oils from palm tree cultivation in the Niari region of the country, to produce approximately 340,000 tons of crude palm oil per year.
