Thanks to recent agreements on exploration and refining, our presence in UAE is becoming broader and broader, driven by the scale of the Ruwais and Ghasha projects and the partnership with ADNOC.
Offices & contacts
Eni Iraq B.V. Dubai Branch
11th Floor - Cluster O - Reef Tower –
Jumeirah Lake Towers, Dubai
His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Abu Dhabi National Oil Company (ADNOC) Group CEO, and Eni’s Chief Executive Officer, Claudio Descalzi, have signed a concession agreement to award Eni a 25 percent stake in ADNOC’s mega offshore gas project. The Ghasha Concession, which has a term of 40 years, consists of the Hail, Ghasha, Dalma and other offshore fields, located in the Emirate’s Al Dhafra region.
Mahani-1 represents the first exploration success for Eni in the UAE achieved only one year after the signature of the Concession Agreement. Eni announces a gas and condensate discovery in the Mahani exploration prospect located onshore in the Area B Concession of Sharjah (UAE), following Eni’s award of the first International Competitive Exploration Licensing Round launched by Sharjah National Oil Corporation (SNOC).
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.
Eni acquires from ADNOC a 20% equity interest in ADNOC Refining. The two companies consolidate their strong partnership.
The agreed terms for the 20% equity interest acquired by Eni include a cash price of approximately $3.3 billion after deduction of the net debt and subject to closing adjustments. This is one of the largest ever refinery transactions.