Italian oil and gas company Eni won three concessions in Sharjah’s first-ever competitive bid, adding to the firm's partnerships in the UAE’s energy industry.
State-owned Sharjah National Oil Corporation, which launched the bidding round last year, awarded Eni, areas A, B and C onshore exploration concessions, the Italian firm said in a statement on Sunday. The value of the deal was not disclosed and it didn't specify when exploration will begin.
“These agreements mark for Eni another major step towards an organic growth in the UAE,” said Claudio Descalzi, the chief executive of Eni. “Today's awards are a further confirmation of our willingness to root our presence in the Middle East by creating long-term strategic partnerships”.
Eni has been on a winning streak in Abu Dhabi, clinching several deals as the emirate forges ahead with plans to boost oil and gas capacities.
State-owned Abu Dhabi National Oil Company said on Saturday it awarded two offshore exploration blocks to a consortium led by Eni and PTT Exploration and Production Public Company of Thailand in its first-ever competitive bid round.
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Read more:
[ Adnoc awards two offshore exploration blocks in first-ever competitive bid ]
[ Adnoc awards Eni 25% stake in multi-billion dollar gas concession ]
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The consortium will invest at least Dh844 million to explore and appraise the two blocks that cover a combined area of about 8,000 square kilometres. Under the agreement, Eni will operate the concessions, while both firms will hold a 100 per cent stake during the exploration period.
Sharjah’s concession A and C will cover an area of 437 square kilometres and 1,184 square kilometres respectively, with Eni acting as operator with a 75 per cent stake in the concession and SNOC retaining the remaining interest.
Concession B will stretch over an area of 264 square kilometres, while SNOC will be the operator with a 50 per cent stake and Eni will hold the remaining interest.
Separately, Eni said on Sunday it signed a preliminary agreement with the National Oil and Gas Authority of Bahrain to explore Block 1, an offshore area of over 2,800 square kilometres. The area, still largely unexplored, is located in the northern territorial waters of Bahrain with water depth ranging from 10 metres up to 70 metres.
"Entering in Bahrain will enable our company to expand its presence in a key region of the Middle East, in line with our strategy aimed at diversifying our exploration portfolio across basins with liquid hydrocarbon potential while keeping high quality stakes throughout the exploration phase," said Mr Descalzi in a separate statement.
Last year, Eni won a number of deals in Abu Dhabi, which is seeking to boost its crude production capacity to 5 million barrels of oil per day by 2030 from about 3 million bpd now. It is also boosting its gas production capacity as it seeks to become gas self-sufficient and ultimately become a net exporter of the fuel.
Last year Eni won a 10 per cent stake in the Umm Shaif and Nasr Offshore concession and a 5 per cent stake in the Lower Zakum concession, making it the first Italian company to clinch such deals in Abu Dhabi's oil and gas sector. Eni also won last year a 25 per cent stake in the Ghasha ultra sour gas concession, which contains high levels of sulphur that need to be stripped to produce gas for consumption.
Godzilla x Kong: The New Empire
Director: Adam Wingard
Starring: Brian Tyree Henry, Rebecca Hall, Dan Stevens
Rating: 4/5
Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
Imperial Island: A History of Empire in Modern Britain
Author: Charlotte Lydia Riley
Publisher: Bodley Head
Pages: 384
COMPANY PROFILE
Company name: Klipit
Started: 2022
Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant
Based: Dubai, UAE
Industry: Digital receipts, finance, blockchain
Funding: $4 million
Investors: Privately/self-funded
BACK TO ALEXANDRIA
Director: Tamer Ruggli
Starring: Nadine Labaki, Fanny Ardant
Rating: 3.5/5
THE SPECS
Aston Martin Rapide AMR
Engine: 6.0-litre V12
Transmission: Touchtronic III eight-speed automatic
Power: 595bhp
Torque: 630Nm
Price: Dh999,563
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If symptoms occur, they usually last for two-seven days
Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
Abu Dhabi GP starting grid
1 Lewis Hamilton (Mercedes)
2 Valtteri Bottas (Mercedes)
3 Sebastian Vettel (Ferrari)
4 Kimi Raikkonen (Ferrari)
5 Daniel Ricciardo (Red Bull)
6 Max Verstappen (Red Bull)
7 Romain Grosjean (Haas)
8 Charles Leclerc (Sauber)
9 Esteban Ocon (Force India)
10 Nico Hulkenberg (Renault)
11 Carlos Sainz (Renault)
12 Marcus Ericsson (Sauber)
13 Kevin Magnussen (Haas)
14 Sergio Perez (Force India)
15 Fernando Alonso (McLaren)
16 Brendon Hartley (Toro Rosso)
17 Pierre Gasly (Toro Rosso)
18 Stoffe Vandoorne (McLaren)
19 Sergey Sirotkin (Williams)
20 Lance Stroll (Williams)
The specs
Powertrain: Single electric motor
Power: 201hp
Torque: 310Nm
Transmission: Single-speed auto
Battery: 53kWh lithium-ion battery pack (GS base model); 70kWh battery pack (GF)
Touring range: 350km (GS); 480km (GF)
Price: From Dh129,900 (GS); Dh149,000 (GF)
On sale: Now
MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
The specs
Engine: 2.3-litre 4cyl turbo
Power: 299hp at 5,500rpm
Torque: 420Nm at 2,750rpm
Transmission: 10-speed auto
Fuel consumption: 12.4L/100km
On sale: Now
Price: From Dh157,395 (XLS); Dh199,395 (Limited)
THE SPECS
Engine: 2.4-litre four-cylinder
Power: 210hp
Torque: 320Nm
Price: Starting from Dh89,900
On sale: Now
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
Company Profile
Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government
UAE athletes heading to Paris 2024
Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).
Cycling
Safia Al Sayegh (women's road race).
Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).
Athletics
Maryam Mohammed Al Farsi (women's 100 metres).