Mar 04 - Eni Signs A Contract In Riyadh For Gas Exploration And Production In Saudi Arabia

Source Press Release
Company ENI 
Tags Upstream Activities
Date March 07, 2004

The contract foresees the activity of exploration, development and production of gas in "Area C" located in the Rub Á the Khali basin. Activities will be carried out by the joint company set up by Eni (50%),  Repsol (30%) and  Saudi Aramco (20%).

Eni’s Chief Executive Officer, accompanied by the Chief Operating Officer of the Exploration & Production Division, Stefano Cao, and along with the Saudi Minister of Oil and Mineral Resources, His Excellency Alì I. Al Naimi, the Chairman and CEO of the Spanish company Repsol YPF, Alfonso Cortina, and the President and CEO of  Saudi Aramco, Abdallah S. Jum’ah, signed a contract for exploration, development and production of gas in "Area C” located in the Rub Al Khali basin, in Saudi Arabia. Activities will be carried out by the joint company set up by Eni (50%),  Repsol (30%) and  Saudi Aramco (20%).

On 28 January, Eni, in the role of operator and in partnership with the Spanish company Repsol YPF, won the international tender called by the Ministry of Oil and Mineral Resources which saw the participation of major international companies.

The signature of this contract marks the start of exploration activities, consisting of geophysical surveys and the drilling of 4 exploration wells in a total area of approximately 52,000 square kilometres, an area the same size as Lombardy, Piedmont and Valle d’Aosta put together. The gas discovered will be sold to the domestic market for power generation, water desalinisation and as a feed stock to petrochemical plants. Condensates and NGL extracted from the gas will be exported.

 
Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd