Eni Signs Exploration and Production Sharing Agreement in Oman

By Alberto Delclaux Features Dow Jones Newswires

Eni SpA (ENI.MI) said Tuesday that it has signed an exploration and production sharing agreement for an offshore area in Oman called Block 52.

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The block is an underexplored area with approximately 90,000 square kilometers of hydrocarbon potential that sits off the coast of southern Oman, Eni said.

Its subsidiary, Eni Oman BV, will hold a 55% stake in the block, the Oman Oil Company Exploration & Production LLC will hold 15%, and Qatar Petroleum will hold the remaining 30%, following a separate agreement that it reached Monday with Eni. The Eni-Qatar Petroleum agreement is subject to the approval of Oman authorities.

Qatar Petroleum's stake is subject to the approval of Oman authorities.

The financial details of the agreement weren't disclosed.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

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(END) Dow Jones Newswires

November 14, 2017 04:46 ET (09:46 GMT)