(Teleborsa) – Eni strengthens its position in Egypt. The six-legged dog has signed two new concession agreements for the offshore blocks of North El Hammad and North Ras El Esh, located in the conventional waters of the Egyptian Mediterranean offshore, awarded as part of the EGAS 2015 International Competitive Bid Round.
Eni is the operator of the North El Hammad block with a 37,5% stake in partnership with BP, with 37,5%, and Total, with 25%. The block, which covers an area of 1927 km2, is located west of the development areas of Abu Madi West and Baltim-Baltim South, where Eni recently made the important discoveries of Nooros, in production since August 2015 and Baltim South West .
Eni also has a 50% stake in the North Ras El Esh block in equal partnership with BP, Operator. The block is located southwest of the Temsah and Port Fouad development areas.
These new awards, which follow the recent ones of the Southwest Meleiha onshore block, in the Western Desert, and Shorouk, Karawan and North Leil, located in the deep waters of the Egyptian offshore Mediterranean, further consolidate Eni's securities portfolio and position in Egypt, country of historical and strategic importance for the company, and confirm the determination in pursuing the exploration activity of the country, after the very important discoveries of Nooros, Zohr and Baltim South West, made in 2015 and 2016.
