Oman: Eni signs exploration agreement for Block 77
Eni has signed an exploration agreement for Block 77, a 3,000 sq. km gas field in central Oman, not far from the important Khazzan and Ghazeer Block 61. The deal, which will be closed after signing a preliminary agreement with British Petroleum Oman and the Ministry of Oil and Gas in January, stipulates that Eni will carry out seismic studies and drill gas exploration wells, in the hope that it might lead to the discovery of new oil deposits.
Eni and BP will each hold a 50% stake with an investment plan of $37 million over six years. If exploration turns out to be fruitful, the project might pave the way for an important Integrated Gas Development District in the Sultanate, on which the Government is planning to put its stakes. The head of Eni in Oman stated that exploration operations are expected to begin in 2020 and that preparatory activities have already started. This consolidates Eni's presence in the country where, in a matter of just a few years, it has become the operator of the extensive Block 52 and has acquired the exploration concession of Block 47.
Azerbaijan: Drillmec wins drilling rig contract
Drillmec has won the call for tender for the supply and building of a drilling rig in the Umid-Babek oil field, managed by the State oil drilling company SOCAR. The contract, which could amount to up to $50 million, sets the signing date in September and the handover of the rig within 16 months.