(MENAFN- Emirates News Agency (WAM))
ROME, 16th January, 2019 (WAM) -- Italian energy giant Eni and the state-run Oman Oil Company Exploration and Production (OOCEP) have recently signed with the government of the Sultanate of Oman an Exploration and Production Sharing Agreement (EPSA) regarding Block 47, Italy's news agency (ANSA) quoted Eni statement as saying.
Block 47 is located ''onshore in the Omani A'Dakhiliyah Governorate and covers an approximate area of 8,524 km²", according to the statement.
The block was awarded to Eni and OOCEP following their joint bid as part of the 2017 Oman Licensing Round. Pursuant the EPSA, Eni is the operator of the block with a 90% participating interest and OOCEP holds the remaining 10% participating interest.
"Exploration operations are expected to start in 2019," the company added.
In addition, Eni has signed with the Ministry of Oil and Gas and with BP a Head of Agreement (HoA) that sets up the principles for the acquisition of the exploration and production rights of Block 77 onshore, with an acreage of 3.100 km², 30 km east of the BP-operated Khazzan Field, the company said in the statement.
''Under the Agreement, Eni and BP hold 50% each with Eni acting as operator during the exploration phase''. After the signature of the HoA, the Exploration and Production Sharing Agreement will follow shortly, Eni said.
WAM/Esraa Ismail
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