COMPANY
We are an integrated energy company committed to the energy transition with solid actions for carbon neutrality by 2050
- BUSINESS MEETINGS AND AGREEMENTS
- NATURAL RESOURCES
Company
Governance
Sustainability
Governance
Vision
Actions
Products
Vision
Actions
Energy Diversification
Technologies for the transition
Technologies for the transition
Partnership for innovation
Activities around the world
Investors
Media
Careers
San Donato Milanese (Milan), 22 December 2016 – Eni has been awarded two exploration blocks offshore Cyprus, following the competitive international bid round "3rd Licensing Round". The announcement was made yesterday by the Ministry of Energy, Commerce, Industry and Tourism of Cyprus, following the decision of the Council of Ministers of the Republic of Cyprus.
Eni will be Operator of Block 6 with a 50% stake in partnership with Total (with the remaining 50%) and will acquire a 100% stake in Block 8.
These areas have geological affinities with those successfully explored by Eni in the neighboring areas in the Egyptian offshore, with the discovery of the Zohr super-giant gas field. With these new assignments, Eni strengthens its strategic positioning in an area where, in addition to the blocks 9, 3 and 2 assigned following the 2nd international bid round in 2012, the company also holds three exploration blocks on the Egyptian side: Shorouk (where the Zohr field is located), Karawan (where Eni has a 50% stake) and North Leil (Eni 100%). The company will leverage synergies with assets already in its portfolio, facilitating time to market and reducing costs.
«These assignments – Eni’s CEO Claudio Descalzi said – confirm the effectiveness of Eni’s exploration strategy, which keeps acquiring significant shares and uses the knowledge base resulting from the intense activity related to Zohr field. It is another step towards a possible future definition of a powerful hub for natural gas in the Eastern Mediterranean, which could play an important role in the future energy security of the area, as well as potentially in Europe’s energy security.»
Eni has been operating in Cyprus since 2013, where it holds and operates the offshore exploration blocks 2, 3 and 9.
Continue reading
Reduce
Investor Relations
Freephone for shareholders (from Italy): 800940924
Freephone for shareholders (from abroad): + 80011223456
Download document