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Sharjah awards Eni three new concessions

Sharjah National Oil Corporation (SNOC) awarded Italy’s Eni concessions in three areas, Eni said in a statement on Sunday.

“Concession Area A and C cover respectively an area of 437 square kilometers (169 square miles) and 1,184 square kilometers. Eni will act as operator with 75 percent participating interest, with SNOC as partner with a 25 percent stake,” the statement said.

“Concession Area B covers an area of 264 square kilometers. SNOC will act as operator with 50 percent participating interest, with Eni holding a 50 percent stake,” it added.

Source: Reuters

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