Eni Signs Exploration and Production Sharing Agreement in Oman
November 14 2017 - 5:01AM
Dow Jones News
By Alberto Delclaux
Eni SpA (ENI.MI) said Tuesday that it has signed an exploration
and production sharing agreement for an offshore area in Oman
called Block 52.
The block is an underexplored area with approximately 90,000
square kilometers of hydrocarbon potential that sits off the coast
of southern Oman, Eni said.
Its subsidiary, Eni Oman BV, will hold a 55% stake in the block,
the Oman Oil Company Exploration & Production LLC will hold
15%, and Qatar Petroleum will hold the remaining 30%, following a
separate agreement that it reached Monday with Eni. The Eni-Qatar
Petroleum agreement is subject to the approval of Oman
authorities.
Qatar Petroleum's stake is subject to the approval of Oman
authorities.
The financial details of the agreement weren't disclosed.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
November 14, 2017 04:46 ET (09:46 GMT)
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