Eni, Thailand's PTTEP Win Oil Exploration Rights in Abu Dhabi - Bloomberg:
Eni SpA and Thailand’s PTT Exploration and Production Pcl secured rights to explore for oil and natural gas in Abu Dhabi, committing to invest at least $230 million to assess the offshore fields.
The concession will be operated by Eni, and will be fully-owned by the Italian company and the government-owned Thai producer. Abu Dhabi National Oil Co. will have the option of retaining 60 percent of the fields once they reach the production phase.
“We are engaging with partners who actually put skin in the game,” Sultan Ahmed Al Jaber, Chief Executive Officer of government-owned Adnoc, said at a conference in Abu Dhabi.
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