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Eni seizes three blocks offshore Egypt

25th September 2014

Eni was the successful bidder of three new exploration licences in Egypt as a result of the competitive 2013 EGPC and EGAS bid rounds

Eni seizes three blocks offshore Egypt
As a result of the EGAS bid round, Eni will become the operator of Block 9 and Block 8, located in deep offshore waters of the Mediterranean Sea, near the boundary with Cypriot waters

“I am very pleased with the acquisition of these new exploration permits which further strengthens our presence in Egypt, a historically and strategically important country for Eni,” said Claudio Descalzi, Eni’s CEO.

The new licences will be formally awarded soon, after the ratification and finalisation of the concession agreements.

As a result of the EGPC bid round, Eni has been awarded a 100 per cent participating interest and operatorship of the onshore block South-West Melehia.

The block is located in Egypt’s Western desert, near the Melehia Development Lease, in which the company has a participating interest. The new licence covers an area of 2,058 square kilometres.

As a result of the EGAS bid round, Eni will become the operator of Block 9 and Block 8, located in deep offshore waters of the Mediterranean Sea, near the boundary with Cypriot waters.

Eni will hold 100 per cent equity in Block 9, also named North Leil Offshore, which covers an area of 5,105 square kilometres in water depths ranging from 2,100 to 2,800 metres.

In Block 8, also named Karawan Offshore, Eni will be partner with BP, with both companies holding a 50 per cent equity interest.   This licence covers an area of 4,565 square kilometres in water depths ranging from 2,000 to 2,500 meters.

In the last months, Eni has entered into new countries, such as South Africa and Myanmar, and acquired new areas like, such as in China and Vietnam.

Eni has been present since 1954 and is currently the largest international energy player in the country, with a hydrocarbon equity production of approximately 220,000 barrels of oil equivalent per day.

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