When Upstream broke the news in April 2006 that Italy's Eni had offered a $906 million signature bonus to secure Block 15/06 in Angola’s first licensing round, it stunned the industry, writes Iain Esau.
At the time, this was said to be the world’s highest ever signature bonus.
Eni also offered a $1.2 billion work programme covering up to 11 wells, targeting potential resources of 1.5
