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  • 14-01-19

    Bahrain, Eni secure petroleum exploration pact

    (MENAFN) Bahrain's National Oil and Gas Authority (NOGA) inked a memorandum of understanding with Italy's Eni for Block 1 petroleum exploration.

    Offshore area Block 1 is situated in the northern territorial waters of Bahrain with water depth ranging from 10m up to 70m.

    Bahraini Oil Minister H.E. Sh. Mohamed Bin Khalifa Al Khalifa penned the agreement with Eni's CEO Claudio Descalzi.

    "This strategic partnership with Eni is a major step towards utilizing the Kingdom's offshore natural resources," stated the Bahraini minister.

    "With this signing, we aim to hold various discussions to review all relevant aspects of the technical and commercial terms of the potential exploration and development within a reduced timeframe," the minister added.

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