Eni Enters E&P Agreement for Block 52, Offshore Oman
Eni SpA revealed Tuesday that it has entered into an exploration and production sharing agreement (EPSA) for Block 52, located offshore Oman, with the Government of the Sultanate of Oman and Oman Oil Company Exploration and Production (OOCEP).
The Italian energy company describes Block 52 as an ‘underexplored area with hydrocarbons potential’. Block 52 has an area of approximately 90,000 square km, with water depths ranging from 10 to over 3,000 meters.
Pursuant to the agreement, Eni is the operator of the block through its subsidiary Eni Oman B.V., with an 85 percent stake. Its partner OOCEP holds the remaining 15 percent interest.
“The signing of the Block 52 EPSA represents an important milestone in Eni’s strategy to reinforce its presence in the Middle East region,” ENI CEO Claudio Descalzi said in a company statement.
“We wish to establish with the Sultanate of Oman, which is a historical oil and gas producer in the region, a long-lasting relationship in the best tradition of Eni,” he added.
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