Intriduction

Offshore 1 and Offshore 2  are the first blocks from the areas offered for commercial bidding by ADNOC in April 2018,it was awarded a consortium formed by Italian oil major Eni and Thailand’s PTTEP. These two offshore blocks covering 8,000 square kilometers.

Under the agreement, Eni will operate the areas and PTTEP and Eni will invest at least $230 million for oil and gas exploration. The two companies will both hold a 100 percent stake in the exploration phase.ADNOC has the option to hold a 60 percent stake in the production phase, following any commercial discovery.

Operator

ENI Italian Energy Holding Co(United Arab Emirates)

PTTEP Middle East Co Ltd(Oman)