Eni will operate the concession
Abu Dhabi – Mubasher:The Abu Dhabi National Oil Company (Adnoc) has awarded a consortium of Italy’s Eni and Thailand’s PTT Exploration and Production to explore for oil and natural gas in Abu Dhabi, with $230 million investments.
Eni will operate the concession and the consortium will fully-own it, according to Bloomberg.
Adnoc will retain 60% of the fields once they begin their production.
“We are engaging with partners who actually put skin in the game,” Adnoc’s CEO Sultan Ahmed Al Jaber commented.
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