January 13, 2019 / 11:33 AM / 8 months ago

SNOC awards Eni three onshore exploration concessions

FILE PHOTO: The logo of Italian energy company Eni is seen at a gas station in Rome, Italy August 16, 2018. REUTERS/Max Rossi

DUBAI (Reuters) - Sharjah National Oil Corporation (SNOC) awarded Italy’s Eni concessions in three areas, Eni said in a statement on Sunday.

“Concession Area A and C cover respectively an area of 437 square kilometers (169 square miles) and 1,184 square kilometers. Eni will act as operator with 75 percent participating interest, with SNOC as partner with a 25 percent stake,” the statement said.

“Concession Area B covers an area of 264 square kilometers. SNOC will act as operator with 50 percent participating interest, with Eni holding a 50 percent stake,” it added.

Reporting by Rania El Gamal; Writing by Asma Alsharif; Editing by Kirsten Donovan

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