Following a joint study conducted in 2016 and the signing of a memorandum of understanding in January, Italian oil and gas company Eni has signed an exploration and production-sharing agreement (EPSA) with the National Oil and Gas Authority of Bahrain (NOGA) for Block 1, offshore Bahrain. The signing took place in the presence of Sheik Mohamed Bin Khalifa Al Khalifa, Minister of oil of Bahrain and chairman of the board of directors in NOGA, and Claudio Descalzi, chief executive officer of Eni.
Under the terms of the agreement, Eni will pursue exploration activities in the offshore area of over 2,800 sq km, located in the northern territorial waters of the Kingdom of Bahrain, with water depth ranging from 10 up to 70 metres.
Thanks to this agreement, Eni strengthens its presence in Bahrain, in line with its strategy aimed at diversifying its exploration portfolio across basins with liquid hydrocarbon potential, as those present in this Middle East region.
In the Middle East, Eni is already present in the United Arab Emirates, Iraq, Oman and Lebanon.