Eni to Develop Abu Dhabi Gas Fields as Emirate Targets Exports - Bloomberg:
Eni SpA won rights to develop major natural gas fields in Abu Dhabi, the company’s chief executive officer said, a deal that could help the Middle Eastern emirate become a net exporter of the fuel.
Rome-based Eni expects to achieve daily production of 1.5 billion cubic feet of gas and 150,000 barrels of oil at an offshore block that includes the Hail and Ghasha deposits, CEO Claudio Descalzi said in a Bloomberg TV interview in Abu Dhabi. Investment in the project, which Eni will develop with Abu Dhabi National Oil Co., could total $20 billion over 40 years, he said.
“We are growing, and we are working very well with Adnoc,” Descalzi said. “We are increasing our presence in the country.” The new oil and gas project will reach peak production by 2022 or 2023, he said.
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