AVN 47.23 Decreased By ▼ -2.70 (-5.41%)
BAFL 29.58 Decreased By ▼ -0.24 (-0.8%)
BOP 3.68 Decreased By ▼ -0.04 (-1.08%)
CNERGY 3.20 Decreased By ▼ -0.14 (-4.19%)
DFML 9.99 Decreased By ▼ -0.27 (-2.63%)
DGKC 47.69 Increased By ▲ 1.04 (2.23%)
EPCL 43.29 Decreased By ▼ -0.35 (-0.8%)
FCCL 11.87 Increased By ▲ 0.09 (0.76%)
FFL 5.81 Decreased By ▼ -0.17 (-2.84%)
FLYNG 5.61 Decreased By ▼ -0.09 (-1.58%)
GGL 9.80 Decreased By ▼ -0.09 (-0.91%)
HUBC 67.87 Increased By ▲ 0.19 (0.28%)
HUMNL 5.65 Decreased By ▼ -0.10 (-1.74%)
KAPCO 22.10 Decreased By ▼ -0.07 (-0.32%)
KEL 1.79 Decreased By ▼ -0.02 (-1.1%)
LOTCHEM 27.34 Increased By ▲ 0.33 (1.22%)
MLCF 27.84 Increased By ▲ 1.36 (5.14%)
NETSOL 70.33 Decreased By ▼ -2.28 (-3.14%)
OGDC 74.11 Decreased By ▼ -1.49 (-1.97%)
PAEL 9.61 Increased By ▲ 0.02 (0.21%)
PIBTL 3.86 Decreased By ▼ -0.05 (-1.28%)
PPL 56.82 Decreased By ▼ -1.78 (-3.04%)
PRL 13.96 Decreased By ▼ -0.18 (-1.27%)
SILK 1.03 Decreased By ▼ -0.02 (-1.9%)
SNGP 40.85 Decreased By ▼ -0.57 (-1.38%)
TELE 6.37 Decreased By ▼ -0.33 (-4.93%)
TPLP 11.67 Decreased By ▼ -0.63 (-5.12%)
TRG 90.20 Decreased By ▼ -2.43 (-2.62%)
UNITY 12.36 Increased By ▲ 0.16 (1.31%)
WTL 1.10 Decreased By ▼ -0.01 (-0.9%)
BR100 4,098 Decreased By -16.1 (-0.39%)
BR30 13,852 Decreased By -122.9 (-0.88%)
KSE100 40,965 Decreased By -65.1 (-0.16%)
KSE30 14,532 Decreased By -43.8 (-0.3%)
Markets

Italy's Eni, Thailand's PTTEP win offshore exploration license in UAE

  • The concession expires in 35 years if the exploration phase, which can last for up to nine years, is successful.
Published December 21, 2020
Follow us

United Arab Emirates' Abu Dhabi National Oil Co (ADNOC) has awarded Italian energy group Eni and Thailand's PTT Exploration and Production (PTTEP) the license to explore Offshore Block 3, the companies said in separate statements on Monday.

ADNOC said the consortium, of which Eni will hold 70% and PTTEP 30%, will invest up to $412 million during the exploration phase.

The concession expires in 35 years if the exploration phase, which can last for up to nine years, is successful.

Comments

Comments are closed.

Italy's Eni, Thailand's PTTEP win offshore exploration license in UAE

PM praises team, says economy back on the rails

6.0 magnitude earthquake jolts Islamabad, other cities

Govt rules out negotiations with Imran

Audio leaks: Probe commission questions stay order issued by SC bench

Online billing solution: ECC approves Rs263.988m more funds for CGA office

US conducts strike near site of Shabaab attack in Somalia

Income tax: Govt likely to introduce e-assessment scheme

IK says ‘will give a surprise’ soon

China's first homegrown passenger jet makes maiden commercial flight

Different categories of cos: SECP gets powers to approve capital expenditure/disposal of fixed assets