Eni enters in the UAE Sharjah Emirate signing Areas A, B and C Onshore Exploration Concessions
13 January 2019 - 10:00 AM CET
These agreements are the result of the first International Competitive Exploration Licensing Round launched by Sharjah National Oil Corporation (SNOC) in 2018 to explore and develop new hydrocarbon resources through the establishment of new partnerships. Eni will act as Operator with 75% participating interest with SNOC as partner with a 25% stake.
Sharjah (United Arab Emirates), 13 January 2019 - His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, the sovereign ruler of the Emirate of Sharjah, and Eni’s Chief Executive Officer, Claudio Descalzi, attended today the 2018 Exploration Bid Round ceremony that saw Eni being awarded Areas A, B & C onshore Exploration Concession Agreements.
These agreements are the result of the first International Competitive Exploration Licensing Round launched by Sharjah National Oil Corporation (SNOC) in 2018 to explore and develop new hydrocarbon resources through the establishment of new partnerships.
Concession Area A and C cover respectively an area of 437 km2 and 1,184 km2. Eni will act as Operator with 75% participating interest with SNOC as partner with a 25% stake. Concession Area B covers an area of 264 km2. SNOC will act as Operator with 50% participating interest with Eni holding 50% of stake.
Eni’s CEO, Claudio Descalzi, said: “These agreements mark for Eni another major step towards an organic growth in the UAE. Today's awards are a further confirmation of our willingness to root our presence in the Middle East by creating long-term strategic partnerships”.
Eni presence in the Middle East has grown significantly in the last year, with the beginning of the exploration activities in the Sultanate of Oman and the signature of major offshore Concession Agreements with Abu Dhabi National Oil Company (ADNOC). In the Middle East, Eni is also present in Lebanon and Iraq.
This website uses cookies to show you adverts and offer you services customised according to the preferences you have shown while browsing online. For further information please refer to our cookie policy.
THIS WEBSITE (AND THE INFORMATION CONTAINED HEREIN) DOES NOT CONTAIN OR CONSTITUTE AN OFFER OF SECURITIES FOR SALE, OR SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OR IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR FOR THE ACCOUNT OR BENEFIT OF ANY U.S. PERSON AS THAT TERM IS DEFINED IN THE SECURITIES ACT (A "U.S. PERSON"), AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH AN OFFER OR SOLICITATION WOULD REQUIRE THE APPROVAL OF LOCAL AUTHORITIES OR OTHERWISE BE UNLAWFUL (THE "OTHER COUNTRIES"). THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR PURSUANT TO THE CORRESPONDING REGULATIONS IN FORCE IN AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE “OTHER COUNTRIES” AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON UNLESS THE SECURITIES ARE REGISTERED UNDER THE SECURITIES ACT, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IS AVAILABLE. NO PUBLIC OFFERING OF SUCH SECURITIES IS INTENDED TO BE MADE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR IN THE “OTHER COUNTRIES.”
In any Member State of the European Economic Area ("EEA"), the information contained in this website is only directed at and may only be communicated to persons who are "qualified investors" ("Qualified Investors") within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the "Prospectus Regulation").
The information to which this website gives access is directed only at persons (i) who are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) who have professional experience in matters relating to investments falling within Article 19(5) of the Order or (iii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). Any investment or investment activity to which this communication relates is only available to relevant persons and will be engaged in only with relevant persons, or in the EEA, with Qualified Investors. Any person who is not a relevant person, a Qualified Investor or otherwise permitted under applicable law or regulation to access the information, should not act or rely on the information contained herein.
Confirmation of Understanding and Acceptance of Disclaimer
These materials are for informational purposes only and are not directed to, nor are they intended for, access by persons located or resident in the United States, Australia, Canada, Japan or South Africa or any of the Other Countries. I certify that:
I am not resident of, or located in, the United States, Australia, Canada, Japan or South Africa or any of the Other Countries or I am not a U.S. Person; or
If I am a resident of, or located in, the EEA, I am a Qualified Investor within the meaning of Article 2(e) of the Prospectus Regulation; or
If I am a resident of, or located in, the United Kingdom, I am a Qualified Investor and a relevant person.
I have read and understood the disclaimer set out above. I understand that it may affect my rights. I agree to be bound by its terms and I am permitted under applicable law and regulations to proceed to the following parts of this website.
WARNING: the above certification constitutes a "self-certification" pursuant to Decree of the President of the Italian Republic No. 445 of 28 December 2000. False certifications are punishable by law.
