Eni enters into new exploration permits offshore Morocco

Eni has signed a Petroleum Agreement (PA) with the Moroccan State Company ONHYM to enter into the Tarfaya Offshore Shallow exploration permits I-XII, located in the waters of the Atlantic Ocean offshore the cities of Sidi Ifni, Tan Tan and Tarfaya.

Following the agreement, which is subject to the authorization of the Moroccan authorities, Eni will be the Operator of the license with a 75% stake, while ONHYM will retain a 25% stake. The exploration rights cover an area of 23,900 km2, with a water depth ranging from zero to 1,000 m, and with liquid hydrocarbons potential in place.

The new Petroleum Agreement enables Eni to enlarge its existing position in Morocco, in line with the Company’s strategy aimed at diversifying its exploration portfolio in basins with high hydrocarbon potential. Eni is already present in Morocco through its operatorship in the Rabat Deep offshore license (Eni 40%, ONHYM 25%, Woodside 25%, Chariot 10%) and the El Jadida offshore license (Eni 75%, ONHYM 25%).

Source: World Oil

Comments

Post a Comment

Popular posts from this blog

ExxonMobil to triple Permian production by 2025, expand transportation infrastructure

Image
ExxonMobil  has  announced that it plans to triple total daily production to more than 600,000 oil-equivalent barrels by 2025 from its operations in the Permian Basin in West Texas and New Mexico. Tight oil production from the Delaware and Midland basins will increase five-fold in the same period. Recent changes in the U.S. corporate tax rate create an environment for increased future capital investments, including ExxonMobil’s plan to spend more than $2 billion on transportation infrastructure to support its Permian operations. Through capital efficient production growth, the increased volumes will be driven by reduced drilling costs, technology improvements and expanded acreage. ExxonMobil has amassed a large, highly contiguous acreage position, located in the prolific, multi-layered oil zones of the Delaware and Midland basins. Combined with operating experience gained through drilling more than 5,000 horizontal unconventional wells, and a leading-edge technology organization, Exxon
Read more

Intellectual devt of youth necessary for sustainable growth -Baru, NNPC GMD …As Gaius-Obaseki pledges support for NNPC management

Leaders at all levels in the country have been called upon to pay attention to the intellectual development of the youth if the country must attain sustainable growth. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, gave this charge at a book launch in Abuja today. Dr. Baru who was the special guest at the Public Presentation of the book entitled: “ Preferred Above My Peers ” written by Mrs. Betty Amechi Anekwe- Ugona, Executive Director, Storage, Nigerian Pipelines and Storage Company (NPSC), a subsidiary of the NNPC, said today’s leaders need to commit their energy to youth development “otherwise our efforts today will all be in vain”. Dr. Baru restated the commitment of the NNPC to youth development stressing that it was in line with the corporation’s corporate social responsibility (CSR) policy. The NNPC helmsman said education paved the way for individuals to make the right choices in life and admonished leaders to use technolo
Read more

Kathy Ayers to speak at the 232nd ECS meeting in Maryland

Image
By Oke Peter Vice President of Research and Development,  Proton Onsite/ Nel Hydrogen, Kathy Ayers, will speak at the upcoming Refresh and Connect: An ECS Mentoring Session, between 1st and 5th October, 2017, at the 232nd ECS MEETING in National Harbor Maryland.  Nobel Prize winner and former US Secretary of Energy, Steve Chu, will be the guest lecturer, he will deliver a paper on “the role of electrochemistry in our transition to sustainable energy”. There will be a large PEM session with 350 papers covering PEM fuel cells and electrolyzers. Kathy Ayers is co-chair of the electrolysis subsection with Bryan Pivovar of NREL. Speakers for the plenary session include: Sunita Satyapal from the Department of Energy, Kurt Wellenkotter from General Motors and K. Amemiya from Toyota. Source : Proton Energ y Kathy Ayers,  Vice President of Research and Development,  Proton Onsite/ Nel Hydrogen,  
Read more