Rome

Eni seals tax deal with Mozambique worth 400 mln dollars

Over 28,57% share sale of Eni East Africa

Eni seals tax deal with Mozambique worth 400 mln dollars

Rome, August 13 - Italian energy giant Eni on Tuesday agreed to pay Mozambique 400 million dollars in taxes by August 23 from revenues made on the sale of 28,5% of Eni East Africa's shares to China National Petroleum Corporation (CNPC). Eni also agreed to build a 75 Mw power plant in Cabo Delgado province. The agreement was announced during a meeting on Tuesday between Mozambique's President Armando Guebuza and Eni's chief executive Paolo Scaroni in Changara, in the eastern Tete province, to talk about Eni's projects in the country. Among initiatives discussed by the two leaders was the energy giant's role in supporting Mozambique's structural development with the construction of a road along the coast connecting Palma to Pemba. The Italian firm has 50% of its biggest ever gas discovery in the country. Other shareholders in Eni's Area 4 prospects are CNPC with 20%, and Galp Energia, Kogas and ENH with 10% each.

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