Thailand’s PTTEP and Italy’s Eni strike ‘significant gas discovery’ in UAE

Thailand’s PTTEP (BKK:PTTEP) has introduced one other “important fuel discovery” from its first exploration nicely within the United Arab Emirates (UAE), along with accomplice Eni (MIL:ENI) of Italy, that paves the best way for “establishing a robust presence” within the Center East nation.

Montri Rawanchaikul, chief govt of PTTEP, yesterday disclosed that Eni Abu Dhabi B.V., the operator, and PTTEP MENA Restricted, PTTEP’s subsidiary because the accomplice, have made one other important fuel discovery, in a deeper zone, of the primary exploration nicely XF-002 in Abu Dhabi Offshore Block 2. The gas-bearing reservoirs had been examined with wonderful circulate charges, and fast-track growth choices are presently underneath analysis. After this nicely, PTTEP and Eni will proceed drilling close by prospects to additional consider potential of the block, mentioned PTTEP.

“We’re delighted to announce one other fuel discovery within the UAE, which is among the main discoveries that we have now made in the latest years. The mixed preliminary estimated uncooked fuel in place from the February 2022 discovery, at a shallower depth and this new discovery is 2.5 – 3.5 trillion cubic toes (TCF). We’re desirous to push ahead the event program of the mission and we imagine the consortium can assemble functionality, expertise, and expertise to speed up area growth and manufacturing to assist the UAE’s fuel self-sufficiency mission” mentioned PTTEP’s CEO.

Abu Dhabi Offshore Block 2, situated in north-west of Abu Dhabi, covers an space of 4,033 sq. kilometers. PTTEP and Eni had been awarded Offshore Block 2 in 2019 from the Abu Dhabi Nationwide Oil Firm (ADNOC) following its first-ever open block licensing spherical to maximise worth from substantial hydrocarbon sources to extend petroleum output of the UAE. Eni Abu Dhabi B.V. is the operator of the mission with 70% taking part curiosity. PTTEP MENA Restricted holds the remaining 30%.

In partnership with Eni, PTTEP presently invests in 4 initiatives within the UAE, specifically Abu Dhabi Offshore 1, Abu Dhabi Offshore 2, Abu Dhabi Offshore 3 and Sharjah Onshore Space C. These are all underneath the exploration part.