Oil Economy Focus Rapid Review
Eni has signed a concession agreement for the acquisition of a 70% stake in the oil and gas Exploration Offshore Block 3 located in the Abu Dhabi Emirate. The company is leading a consortium including a wholly-owned subsidiary of Thailand’s PTT Exploration and Public Company Limited with a 30% stake. Claudio Descalzi, Eni CEO, said that this “represents a further important step towards the realization of Eni’s strategy to become a leading actor in the development and production in Abu Dhabi.”
LINK TO THE SOURCE ARTICLE: Eni expands its presence in UAE with the award of a majority stake and operatorship in offshore block 3
