(PRESS RELEASE) MILAN, 3-Feb-2022 — /EuropaWire/ — Eni (BIT: ENI), an Italian multinational energy company with focus on innovation, efficiency and accessibility for all, has announced first preliminary positive results from its offshore exploration well in Abu Dhabi. The well XF-002 is currently under drilling in offshore Block 2 Abu Dhabi (UAE) in 115 ft of water depth.
The well interim results indicate a range of 1.5-2 trillion cubic feet (TCF) of raw gas in place in multiple good quality reservoirs of the Jurassic exploration targets. The drilling operations will continue to reach the deeper exploration targets of the Khuff and Pre-Khuff Formations. After completing the well drilling in Q2 2022, the size of the well final findings will be assessed.
Eni has a 70% stake and is Operator of the Offshore Block 2, which was awarded to Eni in January 2019 as a result of the first-ever competitive bid round for exploration blocks launched by ADNOC. PTTEP holds the remaining 30%.
Eni has been present in Abu Dhabi since 2018. The company is the operator of 3 exploration licenses and has a participation with ADNOC in 3 offshore development and production concessions, Lower Zakum (5%), Umm Shaif and Nasr (10%) and Ghasha (25%).