Eni signed in Abu Dhabi two Concession Agreements for the acquisition of a 5% stake within the Lower Zakum offshore oil discipline and of a 10% stake within the oil, condensate and gasoline offshore fields of Umm Shaif and Nasr, for a complete participation charge of about 875 million US greenback and a period of 40 years.
The agreements characterize a strategic transfer for Eni having access to a Country with hydrocarbons reserves among the many largest on the earth.
Lower Zakum is positioned about 65 kilometers off the coast of Abu Dhabi. The discovery dates again to 1963 and manufacturing started in 1967. It has a goal manufacturing of 450,000 barrels of oil per day. Umm Shaif and Nasr are positioned about 135 kilometers from the coast of Abu Dhabi and have a goal manufacturing of 460,000 barrels of oil per day.
Eni’s CEO Claudio Descalzi commented: «I’m more than happy about this settlement creating a bigger presence for Eni in Middle East, in keeping with our growth technique, and creating a robust alliance with ADNOC and Abu Dhabi. The stakes within the two concessions give entry to large fields with enormous potential and Eni is prepared to contribute its finest expertise to maximise the long run manufacturing». (Source: Eni – Image: Umm Shaif offshore services/Arabian Oil&Gas)

 

The submit ENI ESTABLISHES LONG TERM PRESENCE IN OFFSHORE UAE appeared first on Energy Global News.

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