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His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of Abu Dhabi National Oil Company (ADNOC), and Eni Group CEO Claudio Descalzi met in Abu Dhabi to discuss the project progress. The company’s activities, future projects and areas of mutual interest and cooperation in the Emirate of Abu Dhabi aimed at accelerating the time-to-market of existing development projects and new exploration discoveries and international activities in accordance with a common decarbonisation strategy and aimed at increasing the global supply of natural gas make a contribution.
Dr. Al Jaber and Mr. Descalzi discuss accelerating the multi-billion dollar Ghasha project. The project is estimated to have substantial recoverable natural gas and is expected to produce over 1.5 billion cubic feet per day (bcfd) of natural gas, in addition to producing over 120,000 barrels per day of high-value oil and condensate.
Mr. Descalzi also described rapid development options for significant natural gas discoveries recently drilled in the first exploration well drilled in Block 2 offshore Abu Dhabi, leveraging other projects currently under execution and leveraging existing ADNOC facilities to optimize cost and speed achieve common production goals. Eni owns 70% and is the operator of Block 2, with partner PTTEP holding the remaining 30%.
In addition, Dr. Al Jaber and Mr. Descalzi analyzed several initiatives aimed at strengthening partnerships within the framework of the energy transition through the deployment of renewable energy projects and other initiatives aimed at reducing carbon intensity, focusing on the development of carbon capture use and storage (CCUS ) projects to offset carbon emissions and deliver significant environmental, social and economic benefits to relevant stakeholders.
Eni has been operating in Abu Dhabi since 2018. Eni operates Blocks 1, 2 and 3 in the exploration phase offshore Abu Dhabi, with a 70% interest. Eni also holds a 25% interest in the Ghasha offshore concession, which is under development. Finally, Eni holds interests in the giant Lower Zakum (5%) and Umm Shaif/Nasr (10%) offshore production concessions in the production stage. Eni also holds a 20% stake in ADNOC Refining, which operates in the Ruwais and Abu Dhabi regions with a combined refining capacity of over 900,000 barrels per day. The Ruwais complex has the fourth highest production volume in the world.
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Eni
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