ADNOC Awards Eni and PTTEP Consortium Offshore Exploration Block

December 27, 2020 | Oil & Gas | Energy Facts Staff Writer | 2min

ADNOC Awards Eni and PTTEP Consortium the First Offshore Exploration Block in Abu Dhabi’s Second Competitive Block Bid Round

Italy’s Eni and Thailand’s PTTEP awarded exploration concession for Offshore Block 3 and will invest up to AED1.51 billion ($412 million) during the exploration phase

In the event of a commercial discovery, the consortium will have the right to a production concession for a term of up to 35 years

ADNOC continues to leverage and strengthen its strategic partnerships to accelerate the exploration and development of Abu Dhabi’s hydrocarbon resources