Abu Dhabi National Oil Company (ADNOC) and Eni explore further opportunities in Abu Dhabi

Objective: to make a positive contribution to increasing the security of gas supplies worldwide

His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates and General Manager and CEO of the National Oil Company of Abu Dhabi (ADNOC), and Claudio Descalzi, the CEO of Eni, met today in Abu Dhabi to discuss the company's business performance in the Emirate, future projects and areas of common interest and collaboration, with the aim of accelerating existing development projects and the time-to-market of new exploration discoveries and international activities, in line with the common decarbonisation strategy and to contribute to greater global gas supplies.

Dr. Al Jaber and Descalzi discussed accelerating Ghasha's multi-billion dollar project. The project is estimated to contain significant volumes of recoverable gas and could produce over 42,5 million cubic meters per day, in addition to over 120.000 barrels of high-value oil and condensates per day.

Descalzi also outlined the fast-track development options for the recent significant gas discovery in the first exploration well drilled in Block 2 offshore Abu Dhabi, leveraging other projects currently in progress and using existing ADNOC infrastructure to optimize costs and accelerate common production goals. Eni holds a 70% stake and is the Operator of Block 2; the PTTEP partner holds the remaining 30%.

In addition, Dr. Al Jaber and Descalzi analyzed several initiatives aimed at strengthening the partnership in the framework of the energy transition by implementing renewable projects, and other initiatives to reduce the carbon footprint, with particular attention to the development of the Carbon Capture Usage and Storage project. (CCUS), to offset CO2 emissions and produce significant environmental, social and economic benefits for the stakeholders concerned.

Eni has been present in Abu Dhabi since 2018. Eni operates in the Abu Dhabi offshore exploration sector in Blocks 1, 2 and 3 with a 70% interest. Eni holds 25% of the Ghasha offshore concession, under development. In production Eni participates in the offshore concessions of the colossus Lower Zakum (5%) and Umm Shaif / Nasr (10%). Eni also holds 20% of ADNOC Refining, which operates in the Ruwais and Abu Dhabi areas, with a total refining capacity of over 900.000 barrels per day. The Ruwais complex is fourth in the world for production capacity.

Abu Dhabi National Oil Company (ADNOC) and Eni explore further opportunities in Abu Dhabi