Eni: takes 25% stake in Abu Dhabi's mega gas project
(CercleFinance.com) - Italian oil and gas firm Eni has signed a concession agreement with Abu Dhabi National Oil Company to take a 25% stake in ADNOC's mega offshore gas project.
The Ghasha Concession - which has a term of 40 years and consists of the Hail, Ghasha, Dalma and other offshore fields - is expected to produce over 1.5 billion cubic feet of gas per day when it comes onstream around 2025.
Once complete, the project will also produce over 120,000 barrels of oil and high value condensate per day.
Eni will contribute 25% of the development cost to enter the concession, the company said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Ghasha Concession - which has a term of 40 years and consists of the Hail, Ghasha, Dalma and other offshore fields - is expected to produce over 1.5 billion cubic feet of gas per day when it comes onstream around 2025.
Once complete, the project will also produce over 120,000 barrels of oil and high value condensate per day.
Eni will contribute 25% of the development cost to enter the concession, the company said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.