Eni eyes Oman opportunities

MILAN, May 29, 2017 – Eni signed an agreement late last week with Oman Oil Company (OOC) that will see the Italian major gear up to study upstream opportunities in Oman. The company also landed exploration rights for Block 52.

The memorandum of understanding (MoU) between the two parties also lays the groundwork for co-operation between OOC and Eni. Isam Al Zadjali, CEO of the Omani entity, said Eni was a “strategic international partner.”

The Milan signing ceremony also included an agreement with the Ministry of Oil and Gas for exploration rights in the offshore Block 52. Together with OOC’s exploration and production arm, Eni will study the hydrocarbons potential of the 90,000-square-kilometre block, where water depths range between 10 and 2,000 metres.

“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 CEO Claudio Descalzi said in comments on the deal.

Read our latest insights on: