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Eni wins offshore Oman exploration rights, signs MoU with state oil firm

Eni wins offshore Oman exploration rights, signs MoU with state oil firm

May 29, 2017
3 min read
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Eni won exploration rights for an offshore block in Oman and the energy company also signed an oil and gas exploration agreement with Oman’s energy investment arm.

Oman’s Ministry of Oil & Gas awarded Eni exploration rights in Block 52, an area of 90,000 Km2 with a water depth ranging from 10 to 2,000 metres with liquid hydrocarbon potential, located offshore Oman.

The area is largely unexplored with the potential of hydrocarbons findings. The area has been awarded following an international bid round process launched in October 2016.

Meanwhile, Eni will cooperate with Oman Oil Company to explore oil and gas opportunities in the Sultanate.

 “We are very happy with this agreement and the award of Block 52,” said Eni’s CEO Claudio Descalzi.  “(The agreements) will allow Eni to start cooperating and investing in such an important East Country and will enable our company to expand its presence in a key region of the Middle East, in line with our strategy aimed at diversifying our exploration portfolio across basins with liquid hydrocarbon potential while keeping high quality stakes throughout the exploration phase.”

The agreement has been reached in Milan by Eng. Isam bin Saud Al Zadjali, CEO of OOC, and Eni’s Descalzi. The ceremony was attended by Dr. Mohammed Al Rumhi, Oil and Gas Minister of the Sultanate of Oman – The Chairman of OOC, by Dr. Ahmed Salim Baomar, Ambassador of the Sultanate of Oman to Italy, and by a number of executives and senior officials from both companies.

 “This MoU with Eni is another step taken by OOC to join hands with a strategic international partner seeking development areas in Oil and Gas sector,” said Eng. Isam Al Zadjali, CEO of OOC. “The strategic position of OOC as Oman’s national oil company attracts major international oil companies’ investments in the Sultanate.”

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