In this episode of Spotlight, our editor speaks with Tom Quinn, a senior analyst at Wood Mackenzie, about Eni’s recent exploration spree in the region, why ADNOC and SNOC opened up their first international exploration licensing rounds, and what this means for the region.
Exploration
Eni signs exploration and production sharing agreement for Oman’s onshore Block 47
Eni is heavily expanding its Middle East presence with several exploration deals
Eni signs MoU for petroleum exploration in Block 1 offshore Bahrain
This is the third exploration announcement made by Eni this week; the company also signed agreements with ADNOC and SNOC
Eni awarded three of Sharjah’s onshore exploration concession areas
The UAE emirate Sharjah launched its first international competitive exploration licensing round in 2018 to explore and develop new hydrocarbon resources
Oman oil minister inks $65mn exploration deals with Occidental Oman and Oman Oil Company
Occidental Petroleum has obtained exploration rights in concession areas 51 and 65
How gas could solve Lebanon’s electricity crisis and power its future
In Lebanon, the Mediterranean country devastated by war, gas could solve key economic issues and help the country keep its lights on
Eni to acquire 49% stake in three onshore Algeria concessions
The company will also partner with Total and state oil company Sonatrach for offshore exploration
RAKGas signs production sharing agreement for Zanzibar’s first oil and gas exploration project
The agreement surrounds Pemba Zanzibar Block, which measure 11,868 square kilometres.
Total makes major 1tcf offshore gas discovery
The new discovery, off the shore of the UK, holds recoverable resources estimated at one trillion cubic feet.
Oil market in danger of tightening without more investment in exploration
“We need more Guyanas, a lot more, and we need them soon,” says Simon Flowers of Wood Mackenzie.