Eni and Tatweer Petroleum has signed an agreement to explore new areas for potential collaboration in Bahrain?s energy sector including renewable energy
The agreement is expected to enhance collaboration in the energy sector, by facilitating the joint assessment and launch of new initiatives in areas of mutual interest of Eni and Tatweer Petroleum.
In accordance with Bahrain?s national energy plan, renewable energy is expected to be an area of particular interest to consider potential business opportunities.
In the liquefied natural gas (LNG) sector, the collaboration aims to target a more sustainable and efficient energy mix to meet Bahrain?s future energy needs.
Shaikh Mohamed bin Khalifa bin Ahmed Al Khalifa, minister for oil of Bahrain and chairman of Tatweer Petroleum, said, ?This MoU will allow for further discussion on collaboration between Tatweer Petroleum and Eni, including the sharing of experience, expertise and support on renewable energy, LNG supply and exploration activities.?
The minister further added that Bahrain is keen to collaborate on joint projects and exchange ideas and experiences in areas related to development programmes in the oil and gas sector as well as the energy sector.
Eni?s CEO Claudio Descalzi commented that this MoU demonstrates Eni?s commitment to expanding its presence in Bahrain while pursuing Eni?s overall decarbonisation strategy. In addition, this forms part of the company?s transition towards green energy and the circular economy that has been underway since 2014.
?In order to ensure long-term sustainability, Eni promotes the development of renewable energy and conducts scientific and technological research,? Descalzi further added.
Eni?s Middle East operation continues to grow
Eni began operating in Bahrain in 2019, with one offshore exploration license. The current exploration acreage in the Region includes in the UAE onshore areas in Sharjah and offshore areas in Abu Dhabi and Ras Al Khaimah. In Abu Dhabi, Eni has three offshore development and production concessions and current equity production amounts to approximately 50,000 bbl per day.
