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Tuesday, 14 November 2017

Eni signs Oman oil and gas exploration deal, Qatari firm to take stake

Eni signs Oman oil and gas exploration deal, Qatari firm to take stake:

"Italian energy firm Eni signed a deal on Tuesday to explore an area off the southern coast of Oman for oil and gas and inked an agreement for Qatar Petroleum (QP) to take a stake in the block. Under the Exploration and Production Sharing Agreement (EPSA), Eni will be operator of Block 52 with an initial 85 percent stake, with the rest held by a subsidiary of state-owned Oman Oil Company SAOC. But Eni said it had also signed an agreement to cede 30 percent of the block to Qatar Petroleum (QP), a move that will reduce the Italian firm’s stake to 55 percent once completed."



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