Eni announced on Tuesday that it has agreed to buy a 40 percent interest from Sasol Petroleum International in an offshore South Africa exploration permit.
The permit covers an area of 82,000 sq/km off the country’s east coast.
Financial terms of the deal have not been disclosed.
Sasol had been granted the permit by the Petroleum Agency of South Africa (PASA) in late 2013.
The Italian company said the deal “reinforces Eni’s position on the East Africa coast, where Eni is already present with exploration activities in Mozambique and in Kenya.”
