Italian energy giant and LNG player Eni signed a memorandum of understanding with Oman Oil Company (OOC) to explore cooperation opportunities in the oil and gas sector.
Oman’s ministry of oil & gas has also granted Eni and OOC exploration rights in Block 52, an area of 90,000 square kilometers with a water depth ranging from 10 to 2,000 meters with liquid hydrocarbon potential, located offshore Oman.
The area is largely unexplored with the potential of hydrocarbons findings and has been awarded following an international bid round process launched in October 2016.
Eni’s CEO, Claudio Descalzi noted the agreement allows the company to further expand its presence in the Middle East and start exploration activities in Oman, an LNG exporter through the government-owned Oman LNG.