Eni’s Descalzi meets with Nigerian President Tinubu

LAGOS, March 5, 2026 – Eni CEO Claudio Descalzi met Nigerian president Bola Ahmed Tinubu in Nigeria to discuss the company’s activities and new initiatives to strengthen deep offshore hydrocarbons development, the company said on Thursday.

The meeting focused on the conversion of Oil Prospecting Licence 245 into two Petroleum Mining Leases and two Petroleum Prospecting Leases awarded to Nigerian Agip Exploration alongside partners Nigerian National Petroleum Company and Shell Nigeria Exploration and Production. The licences will support development of the Zabazaba and Etan fields, which hold about 500 million barrels of reserves and are expected to be developed with a 150,000-bopd capacity FPSO and gas exports of 200 mcf per day at peak through Nigeria LNG.

The discussions also covered Eni’s broader investment portfolio in Nigeria, including the Abo and Bonga fields and Nigeria LNG, as well as the company’s recent acquisition of an additional stake in offshore block OML 118, increasing its holding to 15%. The companies also reviewed potential developments to expand the country’s offshore production capacity.

Eni has operated in Nigeria since 1962 with activities spanning hydrocarbons exploration and production and power generation, and continues to invest in offshore projects and LNG developments in the country. The company holds equity production of about 55,000 boepd and a 10.4% stake in Nigeria LNG.

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