Italian multinational oil and gas major Eni and Angolan National Oil Company Sonangol have signed a Memorandum of Understanding (MoU) to boost cooperation in the agribusiness sector and energy decarbonization.
The MoU was signed in Rome during Hon. João Lourenço’s state visit to Italy this week. Claudio Descalzi, CEO of Eni, and Sebastio Pai Querido Gaspar Martins, Chairman of the Board of Directors of Sonangol, signed the agreement.
The MoU aims to enhance cooperation between the two companies in various aspects of the agribusiness value chain, as well as in the research and development of low-carbon energy and mining technologies and business.
This agreement builds upon a previous MoU signed by Eni, Sonangol, and the Agência Nacional de Petróleo, Gás e Biocombustíveis de Angola (ANPG) in October 2021, which focused on collaborating on bio-feedstock and circular economy projects. Under the new MoU, Eni and Sonangol will identify and optimize energy decarbonization opportunities in the agribusiness sector, including the use of agro-products for the production of low-carbon fuels such as biomass and green ammonia for power and agro-industrial applications.
Furthermore, Eni and Sonangol will conduct comprehensive studies to enhance the interconnection between Angola’s agriculture, food, and energy value chains. Key areas of focus in these studies include improved seeds and biotechnologies, mechanization, fertilizers, and logistics services. The two companies will also assess Angola’s critical minerals landscape to determine its suitability for battery energy storage and renewable energy technologies.
The MoU also encompasses collaboration between energy companies and start-ups and small-medium enterprises to develop and pilot digital energy technologies that can accelerate the energy transition.
This agreement aligns with Sonangol’s broader strategy to invest in and contribute to the decarbonization of Angola’s energy industry and economy, in line with the Paris Climate Change Agreement and Sustainable Development Goals.
