Eni intends to accelerate the development of the recent significant gas discovery in Block 2 offshore Abu Dhabi. Credit: C Morrison from Pixabay.

Italy’s Eni and Abu Dhabi National Oil Company (ADNOC) are exploring opportunities to boost gas supply security amid a global energy crises.

The two parties intend to jointly work to accelerate the Ghasha gas development project and the time-to-market of new exploration discoveries and activities globally.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Claimed to be world’s largest offshore sour gas development with significant recoverable gas, the Ghasha project comprises the Hail, Ghasha, and Dalma fields offshore the UAE.

The project is expected to produce more than 1.5 billion cubic feet of gas per day and over 120,000 barrels of high-value oil and condensates per day.

At a meeting with ADNOC managing director and group CEO Dr Sultan Ahmed Al Jaber, Eni CEO Claudio Descalzi demonstrated options for accelerating the development of the recent significant gas discovery in Block 2, offshore Abu Dhabi.

See Also:

The move would utilise existing ADNOC facilities to accelerate common production targets while optimising costs.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Eni operates Block 2 with a 70% stake while Thailand’s PTTEP owns the remaining 30% interest.

In a press statement, Eni said: “Furthermore, Dr. Al Jaber and Mr. Descalzi analysed several initiatives aimed at strengthening the partnership in the frame of energy transition by deploying renewable energy projects and other initiatives to reduce carbon intensity, with focus on the development of a carbon capture usage and storage (CCUS) project, to offset carbon emissions and deliver significant environmental, social, and economic benefit to involved stakeholders.”

Eni currently operates Blocks 1, 2, and 3 offshore Abu Dhabi, with a 70% interest. It also owns a 25% stake in the Ghasha offshore concession.

The Italian firm also holds stakes in the giant Lower Zakum and Umm Shaif/Nasr offshore producing concessions, as well as a 20% stake in ADNOC Refining, which operates in the Ruwais and Abu Dhabi areas.