Oil giant, Eni, has entered into an exploration and production sharing agreement (EPSA) for block 52 offshore Oman, in partnership with Qatar Petroleum (QP) and Oman Oil Co. Exploration and Production (OOCEP).
According to Eni, this is a little explored but prospective area offshore southern Oman. The concession, awarded following an international bid round staged in late 2016, extends more than 90,000 sq km (34,749 sq mi), in water depths ranging from 10 to more than 3,000 m (33 to 6,562 ft).
The company’s subsidiary Eni Oman will operate with a 55percent interest, with QP holding 30percent, and OOCEP having the remaining 15percent interest.
According to a report by Offshore, Eni’s CEO Claudio Descalzi, at the signing ceremony, noted that QP is “currently leading the LNG business worldwide.”