By Giulia Petroni

Eni SpA said late Wednesday that it has signed a memorandum of understanding regarding the use of its biofuels on Saipem SpA's naval fleet, particularly for operations in the Mediterranean Sea.

"The MoU represents an important milestone for Eni and Saipem, confirming the mutual commitment to diversifying energy sources and to reducing the carbon footprint across offshore operations," the Italian oil-and-gas major said.

Eni has been producing biofuels since 2014 thanks to the conversion of the refineries in Gela and Venice, both in Italy, into biorefineries. The agreement with Saipem was signed through Eni Sustainable Mobility.

Financial details weren't released.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

February 23, 2023 01:45 ET (06:45 GMT)

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