Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
Eni expands Middle East presence with Oman, Bahrain, UAE accords
by Renzo Pipoli
Washington (UPI) Jan 14, 2019

Eni said Monday it reached accords for exploration in two areas of Oman, one of them in partnership with BP, just one day after it announced new exploration accords in Bahrain and the United Arab Emirates.

In one accord, Eni and the Oman government agreed to start explorations along with the country's state oil company in block 47, an area covering some 5,300 square miles awarded to Oman Oil Co. and Eni in a 2017 bidding.

In the other accord, Eni agreed with Oman officials and BP to set up "the principles for the acquisition of the exploration and production rights of block 77 onshore," an area of some 1,900 square miles located 19 miles east of the BP-operated Khazzan Field.

BP started operations in the tight gas Khazzan field in September 2017, extracting 1 billion cubic feet per day in the first phase of the project, with plans to expand production by 50 percent in a second phase. The Khazzan field belongs to a separate area known as block 61.

"Eni and BP hold 50 percent each (of block 77) with Eni acting as operator during the exploration phase," Eni said. Following the signature, the exploration and production sharing agreement "will follow shortly," it added.

"This would represent a further deepening of BP's important position in Oman, building on our successful delivery of the major Khazzan project in 2017 and its second phase of development that is currently under construction," said Bernard Looney, the BP chief executive for the upstream, according to a press release.

Eni is already a partner of the Oman Oil Company for offshore explorations offshore Oman in an area known as block 52 with 56,000 square miles. Eni has a 55 percent stake, Qatar Petroleum has 30 percent and Oman has the remainder.

Eni said in a separate statement Sunday it signed with Bahrain an accord to explore a 1,740-square-mile, shallow-water area known as Block 1, still largely unexplored.

"Entering in Bahrain 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," company CEO Claudio Descalzi said.

Eni also said Sunday, in another statement, that it was awarded onshore areas A,B and C in the United Arab Emirates.

Areas A and C cover about 1,000 square miles and will see Eni act as operator with a 75 percent state with Sharjah National Oil, or SNOC, with the rest. Concession Area B covers 164 square miles, with Eni and SNOC holding equal interests.

"These agreements mark for Eni another major step towards an organic growth in the UAE. Today's awards are a further confirmation of our willingness to root our presence in the Middle East by creating long-term strategic partnerships," Descalzi said.

Eni's presence in the Middle East has grown significantly in the last year, with the beginning of the exploration activities in Oman and the signature of major offshore concession agreements with Abu Dhabi National Oil Company, Eni said.

In the Middle East, Eni is also present in Lebanon and Iraq.


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
Discovery adapts natural membrane to make hydrogen fuel from water
Lemont IL (SPX) Jan 11, 2019
A chemical reaction pathway central to plant biology have been adapted to form the backbone of a new process that converts water into hydrogen fuel using energy from the sun. In a recent study from the U.S. Department of Energy's (DOE) Argonne National Laboratory, scientists have combined two membrane-bound protein complexes to perform a complete conversion of water molecules to hydrogen and oxygen. The work builds on an earlier study that examined one of these protein complexes, called Phot ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Yeast makes ethanol to prevent metabolic overload

Green catalysts with Earth-abundant metals accelerate production of bio-based plastic

Tel Aviv researchers develop biodegradable plastic from seawater algae

A lung-inspired design turns water into fuel

OIL AND GAS
ASU engineers break solar cell record

New materials could help improve the performance of perovskite solar cells

A new way to measure solar panel degradation

Global Commission describes new geopolitical power dynamics created by renewable energy

OIL AND GAS
US Wind Inc. agrees to sell its New Jersey offshore lease to EDF Renewables North America

Wind to lead U.S. electric capacity additions at power plants in 2019

Upwind wind plants can reduce flow to downwind neighbors

More than air: Researchers fine-tune wind farm simulation

OIL AND GAS
Why does nuclear fission produce pear-shaped nuclei?

Framatome develops mobile technology for non-destructive analysis of radioactive waste containers

The first new Generation 3 EPR nuclear reactor enters commercial operation

China powers up next-generation nuclear plant

OIL AND GAS
Climate model uncertainties ripe to be squeezed

Prague experiences hottest year on record

A 'pacemaker' for North African climate

Nations count cost of 2018 climate disasters

OIL AND GAS
For auto tech at CES, "user experience" becomes the key

2D materials may enable electric vehicles to get 500 miles on a single charge

GM sees higher 2019 profits on job cuts, solid US, China sales

Fiat Chrysler to pay $515 mn in US 'dieselgate' settlements

OIL AND GAS
Visits to Israel by Iraqi officials stir controversy

6 killed in clashes, fire at Baghdad women's facility

Conditions for papal visit to Iraq 'not yet met': Vatican

New Iraq minister quits over videos linking her brother to IS

OIL AND GAS
Factory tour for N. Korea's Kim on secretive Beijing visit

Kim seeks to up ante with Xi summit: analysts

North Korea's Kim visits China ahead of expected Trump summit

North Korea's Kim visits China ahead of expected Trump summit









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.