In the upstream sector, in March 2018, Eni signed, with the state company ADNOC Offshore, two Concession Agreements for the acquisition of a 5% stake in the Lower Zakum offshore oil field and of a 10% stake in the oil, condensate and gas offshore fields of Umm Shaif and Nasr, for a total participation fee of about 875 million US dollar and a duration of 40 years.
Lower Zakum is located about 65 kilometers off the coast of Abu Dhabi. The discovery dates back to 1963 and production began in 1967. It has a target production of 450,000 barrels of oil per day. Umm Shaif and Nasr are located about 135 kilometers from the coast of Abu Dhabi and have a target production of 460,000 barrels of oil per day. In both concessions, ADNOC owns a 60% stake. The agreements represent a strategic move for Eni gaining access to a Country with hydrocarbons reserves among the largest in the world.
Gas & LNG Marketing and Power
Eni’s current presence in the country is mainly focused in the Gas & LNG Marketing and Power sector and linked to the sale of LNG, conducted through the jointly owned company, Union Fenosa Gas SA.
Offices and contacts
Eni Iraq B.V. Dubai Branch -
11th Floor - Cluster O - Reef Tower –
Jumeirah Lake Towers, Dubai