A Memorandum of Understanding (MoU) was signed yesterday between the National Oil and Gas Authority of the Kingdom of Bahrain (NOGA) and Eni to document the intention to pursue petroleum exploration of Block 1 which is situated in the northern territorial waters of the Kingdom with water depth ranging from 10 metres up to 70 metres.
This follows the successful exploration at Khalij Al Bahrain Basin, which yielded Bahrain’s largest oil and gas find.
The signing was between Shaikh Mohammed bin Khalifa Al Khalifa, Minister of Oil and Eni’s CEO Claudio Descalzi, in the presence of a number of officials from NOGA, the oil and gas holding company (NOGA Holding), Tatweer Petroleum – Bahrain Field Development Company and a number of executives from the oil and gas industry.
Eni is delighted with the signing of the MoU and the opportunity to explore the potential of Block 1 and that the MoU and the exploration in Block 1 will allow Eni to start co-operating and investing in a country that was one of the first in the Gulf to produce oil and which now aims at unveiling its offshore potential.
Source Credit: DT News