Supermajor BP and Italy's Eni have struck a deal that could see them form a joint venture that brings together all their oil, gas and liquefied natural gas interests in Angola.

The two European players have entered into a non-binding memorandum of understanding (MoU) to progress detailed discussions on combining their upstream portfolios in Angola.

If the deal comes to fruition, the joint venture would be among the largest operators in the Angolan sector based on production from two portfolios that stood at more than 200,000 barrels of oil equivalent per day in 2020, according to a BP spokesperson.