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. Last Updated: 07/27/2016

Gazprom, Eni Chiefs Meet in Moscow

Eni, Europe's fourth-largest oil company, expects to conclude an agreement that will give it "direct entry" into oil exploration assets in Russia.

Eni CEO Paolo Scaroni met Monday in Moscow with Alexei Miller, the CEO of Gazprom, to discuss the agreement, according to a statement from Rome-based Eni.

The terms of the acquisition will be announced "in the near future," according to a statement Monday from Gazprom.

The two companies signed an agreement in November that would give Eni access to Russian oil assets in exchange for allowing Gazprom, the world's largest natural-gas explorer, to sell gas to Italian household customers. The company is looking for an Italian distribution partner.

Eni and Gazprom also agreed to develop oil and gas fields jointly in Russia and Africa.