An important partnership that will allow us to grow, strengthen our integration and increase our refining capacity. This is the result of the agreement signed with Abu Dhabi National Oil Company (ADNOC) Refining on 27 January 2019, which sees Eni acquiring a stake in refining operations of the Middle Eastern company. This is one of the largest ever refinery transactions and reflects the scale, quality, and growth potential of ADNOC Refining’s assets.
CEO Claudio Descalzi describes the terms of the agreement with ADNOC Refining: from Italy to the Middle East, sharing strategies and skills in an increasingly important area. “We have developed various technologies in Italy that can be used to increase the flexibility, efficiency and effectiveness of Ruwais.”
The contract signed in Abu Dhabi is the latest in a series of agreements completed in the United Arab Emirates in January 2019. This agreement in the refining sector also provides an advantageous geographical location from which to supply markets in Africa, Asia and Europe: ADNOC Refining operates three refineries in Ruwais as well as Abu Dhabi, with a total refining capacity in excess of 900 thousand barrel per day. The Ruwais complex ranks fourth worldwide in terms of capacity and provides for a high conversion factor.
Eni signs nine deals on the Arabian peninsula. The ink in Chief Executive Officer Claudio Descalzi’s pen is running low after a January signing spree which has seen Eni sign a multi-billion dollar refinery deal in the United Arab Emirates as well as secure eight new exploration and production deals across the Arabian peninsula…
Eni will contribute to the technological development of the complex having already matured, in its European refineries, a vast experience in similar process and in the optimization activities: more and greater value for the business.
In January 2019, at the Atlantic Council Global Forum and World Energy Summit in Abu Dhabi, we signed agreements of huge strategic importance with the United Arab Emirates, Oman and Bahrain for exploring and producing large onshore and offshore oil and gas fields. Technological innovation, scientific expertise, quick start-up times and collaboration with our host countries have allowed us to strengthen our presence in a key area for the development of the energy industry.
Eni is beginning brand-new exploration work in Abu Dhabi. As part of the Emirate’s strategy to grant licences to international companies, ADNOC held an auction in April 2018, with Block 1 and Block 2 the first to be allocated.
In addition to the United Arab Emirates, Oman and Bahrain in the Middle East Eni is also present in Lebanon and Iraq.
Together, all these new projects build on our long history in the Middle East: Eni has been working in this area since the 1950s, inspired by the enterprising spirit of its founder Enrico Mattei, who succeeded in building profitable and long-lasting partnerships with oil-producing countries.