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    Trans Mountain Pipeline Expansion Boosts China Oil Trade

    Trans Mountain Pipeline Expansion Boosts China Oil Trade

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    OPEC

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    UAE Energy Investments in the US

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    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Future-proofing-gas-sector

    Future-proofing Gas Sector for Efficiency and Sustainability

    South-Africa-Oil-and-Gas-Exploration

    South Africa Speeding-up its Oil and Gas Exploration

    Upstream-Exploration

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    Offshore-Drilling

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    Gato-do-Mato

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    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

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    ExxonMobil doubles Permian footprint after finalizing Pioneer acquisition

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Eni strengthens its presence in the Cyprus Offshore

Yuvraj_ong by Yuvraj_ong
March 9, 2017
in Press Releases, Production, Upstream
0

Eni announces that has finalized a farm-in agreement with Total to acquire 50% Participating Interest of Block 11 Offshore Cyprus.                                                               

The agreement, by which Total remains the Operator of the Block, has been approved by the Council of Ministers of the Republic of Cyprus. With this transaction Eni further reinforces its own position in the Country, acquiring the right of exploring an area of 2,215 square kilometers, nearby the “super giant” Zohr discovery in the Egyptian offshore.

The rights on Block 11 were assigned by the Republic of Cyprus to Total back in 2013 at the conclusion of the second international bid round held by the Country. The exploration well is expected to be drilled in the Block within 2017.

This agreement is part of Eni’s strategy aimed at increasing its own exploration portfolio in the strategic area of Eastern Mediterranean Sea.

Eni has been present in Cyprus since 2013 through its subsidiary Eni Cyprus Ltd and holds exploration rights on Blocks 9, 3,2 (Eni 80% Op., Kogas 20%) awarded in the second round. Eni has also been chosen, in the third competitive bid round, as selected bidder for Block 6 (Eni 50% Op.,Total 50%) and Block 8 (Eni 100% Op.).

Press Office:
Tel. +39.0252031875 
+39.0659822030
ufficio.stampa@eni.com

Freephone for shareholders (from Italy):
800940924
segreteriasocietaria.azionisti@eni.com

Freephone for shareholders (from abroad):
+ 80011223456
investor.relations@eni.com
Switchboard:
+39-0659821
Web site: www.eni.com 

 

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