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Eni to explore oil and gas offshore Oman; Qatari firm to take stake

Published 11/14/2017, 02:36 PM
© Reuters.  Eni to explore oil and gas offshore Oman; Qatari firm to take stake
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  • Eni (E -0.2%) signs a deal to explore offshore Oman for oil and gas and reaches an agreement for Qatar Petroleum to take a stake in the block.
  • Under the E&P sharing agreement, Eni will be operator of Block 52 with an initial 85% stake, with the rest held by a subsidiary of state-owned Oman Oil Co., but Eni's sale of 30% of the block to Qatar will reduce its stake to 55% once completed.
  • Block 52, located in water depths up to 6,500 ft., is largely underexplored and covers 34,750 sq. miles.
  • Now read: Jagged Peak Energy (JAG) Presents At KLR E&P Conference - Slideshow


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