Under the agreement, Eni will open a local office in Papua New Guinea to perform a detailed exploration study and outline a data acquisition program for the unlicensed or unexplored areas within the country, in order to better determine the remaining hydrocarbon potential.
The data and the outcome will be the property of Papua New Guinea and Eni will have the first option to identify areas of interest.
Eni is also interested in engaging with local communities in Papua New Guinea to jointly explore opportunities for developing oil and gas projects that can be expeditiously brought on stream.
The agreement also covers the promotion of social projects related to new infrastructure, power generation and technical support for the development and use of alternative and existing renewable forms of energy such as geothermic, hydro and solar power.
