The non-exclusive co-operation agreement is expected to include terms for the creation of development opportunities for both Energias de Portugal (EDP) and International Petroleum Investment Company (IPIC) in the field of conventional and renewable energy generation in the Middle East-North Africa and the broader Asian regions.
The agreement is also expected to call for the creation of development opportunities for both EDP and IPIC in the field of conventional and renewable energy generation in the Iberian Peninsula and will also specify conditions for the co-operation by IPIC in establishing contacts between EDP and gas producers in the Middle East.
The agreement will come into force once IPIC comes to hold at least 2% of EDP’s share capital.
