Italy’s state-controlled energy giant Eni has signed an exploration and production sharing agreement (EPSA) for Block 1 offshore Bahrain.
Following a joint study conducted by Eni in 2016 and the signature of a memorandum of understanding on January 13, 2019, Eni signed an EPSA with the National Oil and Gas Authority of Bahrain (NOGA) for Block 1.
Under the terms of the agreement, Eni will pursue exploration activities in the offshore area of over 2,800 square kilometers, located in the northern territorial waters of the Kingdom of Bahrain, with water depth ranging from 10 up to 70 meters.
Eni said on Wednesday that, thanks to this agreement, it strengthened its presence in Bahrain in line with its strategy aimed at diversifying its exploration portfolio across basins with liquid hydrocarbon potential, like those present in this Middle East region.