Oman Oil, Eni Sign MoU
The Oman Oil Company and Italian Eni have finalised a memorandum of understanding to explore cooperation opportunities in the oil and gas sector, Eni said May 25.
The ministry of oil & gas of Oman has also granted Eni and Oman Oil Company Exploration & Production exploration rights in Block 52, an area of 90,000 kilometres2 with a water depth ranging from 10 metres to 2,000 metres with liquid hydrocarbon potential, located offshore Oman, Eni said.
The area is largely unexplored with the potential of hydrocarbons findings. It was awarded following an international bid round process launched in October 2016.
“'This MoU and exploration in Block 52 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,” Eni’s CEO Claudio Descalzi said.
Shardul Sharma