Eni gains two more shallow water blocks offshore Egypt

Offshore staff

SAN DONATO MILANESE, ItalyEni has signed two new concession agreements for the shallow-water North El Hammad and North Ras El Esh concessions in the Egyptian Mediterranean Sea, awarded under the EGAS 2015 international bid round.

The company operates the North El Hammad block with a 37.5% stake, the same as partner BP. Total, the third participant, has a 25% stake.

The 1,927-sq km (744-sq mi) block is west of the Abu Madi West and Baltim-Baltim South development areas, where Eni brought onstream the Nooros field in August 2015 and which also contains the recent Baltim South West discovery.

In the 1,389-sq km (536-sq mi) North Ras El Esh block operated by BP, southwest of the Temsah and Port Fouad development areas, Eni has a 50% interest.

These awards follow new concession agreements for the company covering the deepwater Egyptian Shorouk, Karawan and North Leil blocks.

12/29/2016

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