Eni has marked a pair of strategic milestones, advancing its gas position offshore Angola while reinforcing its financial flexibility through a new multi-billion-dollar credit facility.
In Angola, the company announced first gas from the Quiluma field, part of the New Gas Consortium (NGC), signaling a key step forward for the country’s gas monetization strategy. Initial production is set at 150 MMscf/d, with output expected to ramp up to 330 MMscf/d in 2026.
Gas from Quiluma will be processed at the Soyo gas treatment plant and then supplied to the Angola LNG facility for both export and domestic use. The NGC development targets non-associated gas resources, supporting Angola’s efforts to expand LNG exports while increasing domestic gas utilization.
The project is operated by Azule Energy—a joint venture between Eni and bp—which produces more than 230,000 barrels of oil equivalent per day and plays a central role in the country’s upstream sector.
Separately, Eni has secured a new €9 billion ($9.7 billion) five-year revolving credit facility, with an option to extend for an additional two years. The facility replaces existing €6 billion and €3 billion lines and is backed by a syndicate of 28 global banks.
The financing, which was oversubscribed by approximately 40%, is expected to enhance Eni’s liquidity position and support ongoing investments across its global portfolio, including gas and energy transition projects.
Together, the developments underscore Eni’s continued focus on expanding gas supply while maintaining strong access to capital to fund long-term growth.
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