(PRESS RELEASE) SAN DONATO MILANESE, Italy, 28-Jan-2020 — /EuropaWire/ — The partnership between Eni, Italian gas company and Sharjah National Oil Corporation (SNOC) has borne fruit after a year, following concession agreement, in a discovery of gas and condensate in Sharjah, UAE.
The Mahani-1 exploration well was drilled at a total depth of 14,597 feet. This resulted to the discovery of a thick gas-bearing limestone reservoir in the Thamana. This signifies as the first exploration success for Eni in the UAE. The Mahani exploration is located in the Area B Concession of Sharjah. The size of the discovery is yet to be assessed and will be announced in time.
The well was tested with flow rates up to 50 million cubic feet per day of lean gas and associated condensate. Lean gas is composed mostly of methane gas and partly ethane.
Eni and SNOC both hold 50 percent stake in the Concession Area B. SNOC acts as operator for the said area. This was part of the concession agreement that was signed in early 2019.
Eni’s gas exploration in the Middle East continues to grow during the last couple of years. The current exploration acreage in the UAE alone amounts to more than 12,000 square kilometers gross, comprising the onshore of Sharjah and offshore areas of Abu Dhabi and Ras Al Khaimah.
Since 2018, Eni has been present in Abu Dhabi. It’s current equity in Abu Dhabi is around 50,000 barrels per day. It holds three offshore development and production concessions and two offshore exploration concessions. Eni also holds shares in Abu Dhabi National Oil Company with a 20 percent equity interest. Eni also has exploration and development activities among the areas of the Middle East such as Bahrain, Oman, Lebanon, and Iraq.
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