Wednesday 17 July 2019
 
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PARTNERSHIP WITH SNOC

Sheikh Dr Sultan, Descalzi and other officials at the signing

Sharjah awards Eni three long-term concessions

SHARJAH, January 13, 2019

Sharjah's Ruler HH Sheikh Dr Sultan bin Mohamed Al Qasimi has signed a long-term agreement awarding Eni three long-term concessions to explore and develop onshore oil and gas fields in a 30-year partnership with Sharjah National Oil Corporation (SNOC).
 
Earlier, Sheikh Dr Sultan received in his office Claudio Descalzi, CEO of Eni, Italy’s largest energy company, in the presence of Sheikh Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and chairman of Sharjah Petroleum Council; Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah; and Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah.
 
The agreement was also signed by Descalzi, who lauded the emirate's research and development efforts in energy, oil and natural gas, stressing these efforts support sustainable energy and offer diverse sources to serve future generations.
 
The Ruler of Sharjah and the CEO of Eni also discussed a number of energy, oil and natural gas-related issues, as well as future projects aimed at ensuring the sustainability of energy.
 
Sheikh Dr Sultan also witnessed the signing of an agreement between SNOC and Eni, inked by Hatem Al Mosa, CEO of SNOC, and Descalzi affirming cooperation between both parties in oil and natural gas.
 
Speaking on the occasion, Sheikh Ahmed said: "The Sharjah licence round has delivered long-term value to the government and people of Sharjah. I congratulate both ENI and SNOC and wish them much future success together."
 
Sheikh Sultan bin Ahmed Al Qasimi, deputy chairman of the Sharjah Petroleum Council and chairman of SNOC, said: "We are very pleased the license round was successful in securing an experienced partner to assist with our exploration activities, and we look forward to the benefits for Sharjah in the coming months and years.”
 
The three concession areas -- A, B and C -- were on offer to international bidders in partnership with SNOC, and the results gave Eni the role of operator in Areas A and C, while SNOC retained the role of Operator in Area B. The concession agreements cover the exploration, appraisal and development of oil and gas resources in the areas.
 
“We are delighted to welcome Eni as our partner in Sharjah. Eni has an excellent track record in both exploration and development and brings both technical expertise and the ability to move ahead with activities at a fast pace,” said Hatem Al Mosa, CEO of SNOC. “I would like to thank all the companies who participated in the process. SNOC plans to conduct License Rounds for additional areas in the future,” he said. - TradeArabia News Service
 
 



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