Abu Dhabi National Oil Co. (ADNOC) said on Nov. 13 it has granted Italian oil major Eni a 40-year concession, awarding it a 25% stake in its offshore ultra-sour gas mega project.
Eni will contribute 25% of the development cost of the multibillion dollar project, ADNOC said in a statement announcing the signing of the pact.
ADNOC added that it is in discussion with other potential partners for the remaining 15% stake in the Ghasha concession.
The Ghasha Concession consists of the Hail, Ghasha, Dalma and other offshore fields.
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