Milan (Italy), 1 May 2019 – Further to a joint study conducted by Eni in 2016 and a Memorandum of Understanding signed between Eni and the National Oil and Gas Authority of the Kingdom of Bahrain on 13 January 2019, an Exploration and Production Sharing Agreement (EPSA) has been signed today between NOGA and Eni to pursue petroleum exploration and production activities in the Kingdom of Bahrain's Offshore Block 1 pending final legislative approvals.
The signing took place in Milan, Italy, by H.E. Shaikh Mohammed bin Khalifa Al Khalifa, Minister of Oil and Eni's CEO Mr. Claudio Descalzi, in the presence of a number of officials from the National Oil and Gas Authority, Tatweer Petroleum and Eni.
H.E. the Minister of Oil praised the wise leadership led by His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain and the support of the government of the Kingdom of Bahrain headed by His Royal Highness Prince Khalifa bin Salman Al Khalifa Prime Minister and the prominent role played by the Higher Committee for Natural Wealth and Economic Security, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, First Deputy Prime Minister, which aims to preserve the country's natural wealth, develop energy sources and support the national economy.
Commenting on the signing, H.E. the Minister of Oil stated that Block 1 is an offshore area of over 2,800 km2, situated in the northern territorial waters of the Kingdom of Bahrain with water depth ranging from 10m up to 70m and noted that this partnership with Eni, a major integrated energy company, is an important step towards utilizing the Kingdom's offshore natural resources and added that the EPSA enables Eni to explore, appraise, develop, produce and transport petroleum within Offshore Block 1.
H.E. Shaikh Mohamed, affirmed that the National Oil and Gas Authority pays great attention to strengthening relations and enhancing cooperation with all international oil companies and providing all means of supporting to support the Kingdom's energy needs to ensure the continuity of the economy growth and to meet the Kingdom of Bahrain's vision 2030.
It is worth noting that Eni is one of the major integrated energy companies operating in 70 countries of the world with various projects.