Eni signed a Memorandum of Understanding (MoU) with Bahrain to jointly assess and launch new projects in areas of renewable energy, LNG supply and exploration.
In accordance with Bahrain’s national energy plan, renewable energy will be an area of particular interest in order to consider potential business opportunities, Eni said, adding that in the LNG (Liquefied Natural Gas) sector, the collaboration will target a more sustainable and efficient energy mix to meet Bahrain’s future energy needs.
The agreement was signed by His Excellency Shaikh Mohamed bin Khalifa bin Ahmed Al Khalifa, Minister for Oil of the Kingdom of Bahrain and Chairman of Tatweer Petroleum, and Eni’s chief executive officer, Claudio Descalzi, and attended by His Royal Highness Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister Salman bin Hamad Al Khalifa.
H.E. Shaikh Mohamed noted: “This MoU will allow for further discussion on collaboration between Tatweer Petroleum and Eni, including the sharing of experience, expertise, and support on renewable energy, LNG supply, and exploration activities. The Kingdom of Bahrain is keen to collaborate on joint projects and exchange ideas and experiences in common areas related to development programs in the oil and gas sector as well as the energy sector.”
Eni’s CEO Claudio Descalzi said: “This MoU clearly demonstrates Eni’s commitment to expanding its presence in Bahrain while pursuing Eni’s overall decarbonisation strategy, and forms part of the company’s transition towards green energy and the circular economy that has been underway since 2014. Eni aims to support the increase of low carbon energy sources in countries where it operates. In order to ensure long-term sustainability, Eni promotes the development of renewable energy and conducts scientific and technological research.”
Eni’s operations in the Middle East have continued to grow over the last few years. Notably, Eni began operating in Bahrain in 2019, with one offshore exploration license. The current exploration acreage in the region includes in the UAE onshore areas in Sharjah and offshore areas in Abu Dhabi and Ras Al Khaimah.