{"id":46020,"date":"2018-03-12T11:07:44","date_gmt":"2018-03-12T16:07:44","guid":{"rendered":"https:\/\/drillingcontractor.org\/?p=46020"},"modified":"2018-03-14T08:29:06","modified_gmt":"2018-03-14T13:29:06","slug":"wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals","status":"publish","type":"post","link":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020","title":{"rendered":"Wood Mackenzie: ENI lays foundation for Middle East portfolio with ADNOC deals"},"content":{"rendered":"<p>Italian major <strong>ENI<\/strong>&nbsp;has signed two concession agreements with <strong>ADNOC<\/strong>. ENI took a 5% stake in the Lower Zakum oilfield, offshore Abu Dhabi, and 10% in the Umm Shaif and Nasr oil, gas and condensate fields, also offshore Abu Dhabi, for a total participation fee of approximately $875 million. The agreements run for 40 years.<\/p>\n<p>&ldquo;Eni is very strong in North Africa but has traditionally been underexposed to the Middle East when compared to its peers,&#8221;&nbsp;<strong>Tom Quinn<\/strong>, Senior Research Analyst, Middle East Upstream at Wood Mackenzie, said. &#8220;The company has picked up exploration blocks in Oman and Lebanon, which, being frontier, are high-risk but potentially high-reward. To balance this, the ADNOC deal provides low-risk, long-term barrels, and lays the foundation for ENI&rsquo;s Middle East portfolio. This is the first award by ADNOC to a major (in the offshore renewal), and shows it is looking to find a balance in its strategic partners between companies from major buyers, such as Japan and India, and IOCs with technology and project delivery expertise.&rdquo;<\/p>\n<p>Lower Zakum is located about 65 km offshore Abu Dhabi. The discovery dates to 1963 and came on stream in 1967. It has a target production of 450,000 bpd. Umm Shaif and Nasr lie 135 km offshore Abu Dhabi and have a target production of 460,000 bpd.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Italian major ENI signed two concession agreements with ADNOC. ENI took a 5% stake in the Lower Zakum oilfield, offshore Abu Dhabi, and 10% in the Umm Shaif and Nasr oil, gas and condensate fields, also offshore Abu Dhabi, for a total participation fee of approximately $875 million. The agreements run for 40 years&#8230;<\/p>\n","protected":false},"author":5,"featured_media":37587,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13,12,53],"tags":[],"class_list":["post-46020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mkt","category-news","category-os"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wood Mackenzie: ENI lays foundation for Middle East portfolio with ADNOC deals - Drilling Contractor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wood Mackenzie: ENI lays foundation for Middle East portfolio with ADNOC deals - Drilling Contractor\" \/>\n<meta property=\"og:description\" content=\"Italian major ENI signed two concession agreements with ADNOC. ENI took a 5% stake in the Lower Zakum oilfield, offshore Abu Dhabi, and 10% in the Umm Shaif and Nasr oil, gas and condensate fields, also offshore Abu Dhabi, for a total participation fee of approximately $875 million. The agreements run for 40 years...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020\" \/>\n<meta property=\"og:site_name\" content=\"Drilling Contractor\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/pages\/Drilling-Contractor-Magazine\/112140675010\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-12T16:07:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-03-14T13:29:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/10\/default-img-featured-deepwater.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"620\" \/>\n\t<meta property=\"og:image:height\" content=\"330\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Linda Hsieh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DC_Magazine\" \/>\n<meta name=\"twitter:site\" content=\"@DC_Magazine\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Linda Hsieh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#article\",\"isPartOf\":{\"@id\":\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020\"},\"author\":{\"name\":\"Linda Hsieh\",\"@id\":\"https:\/\/drillingcontractor.org\/#\/schema\/person\/0c50e65aada9b2828221cb1163cdd0ad\"},\"headline\":\"Wood Mackenzie: ENI lays foundation for Middle East portfolio with ADNOC deals\",\"datePublished\":\"2018-03-12T16:07:44+00:00\",\"dateModified\":\"2018-03-14T13:29:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020\"},\"wordCount\":221,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/drillingcontractor.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#primaryimage\"},\"thumbnailUrl\":\"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/10\/default-img-featured-deepwater.jpg\",\"articleSection\":[\"Global and Regional Markets\",\"News\",\"The Offshore Frontier\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020\",\"url\":\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020\",\"name\":\"Wood Mackenzie: ENI lays foundation for Middle East portfolio with ADNOC deals - Drilling Contractor\",\"isPartOf\":{\"@id\":\"https:\/\/drillingcontractor.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#primaryimage\"},\"image\":{\"@id\":\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#primaryimage\"},\"thumbnailUrl\":\"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/10\/default-img-featured-deepwater.jpg\",\"datePublished\":\"2018-03-12T16:07:44+00:00\",\"dateModified\":\"2018-03-14T13:29:06+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#primaryimage\",\"url\":\"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/10\/default-img-featured-deepwater.jpg\",\"contentUrl\":\"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/10\/default-img-featured-deepwater.jpg\",\"width\":620,\"height\":330},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/drillingcontractor.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Wood Mackenzie: ENI lays foundation for Middle East portfolio with ADNOC deals\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/drillingcontractor.org\/#website\",\"url\":\"https:\/\/drillingcontractor.org\/\",\"name\":\"Drilling Contractor\",\"description\":\"Get the latest oil drilling news with DrillingContractor.org\",\"publisher\":{\"@id\":\"https:\/\/drillingcontractor.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/drillingcontractor.org\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/drillingcontractor.org\/#organization\",\"name\":\"Drilling Contractor Magazine\",\"url\":\"https:\/\/drillingcontractor.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/drillingcontractor.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/04\/logo-login2.jpg\",\"contentUrl\":\"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/04\/logo-login2.jpg\",\"width\":200,\"height\":68,\"caption\":\"Drilling Contractor Magazine\"},\"image\":{\"@id\":\"https:\/\/drillingcontractor.org\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"http:\/\/www.facebook.com\/pages\/Drilling-Contractor-Magazine\/112140675010\",\"https:\/\/x.com\/DC_Magazine\",\"https:\/\/www.linkedin.com\/grp\/home?gid=1810343\",\"https:\/\/www.youtube.com\/channel\/UC0xXkxpL1WTf99-oLW8Z9hg\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/drillingcontractor.org\/#\/schema\/person\/0c50e65aada9b2828221cb1163cdd0ad\",\"name\":\"Linda Hsieh\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/drillingcontractor.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d31099eff4063931f77fa52340d071aa51d77cd11f40f4e58d6c3879ffe71fbb?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d31099eff4063931f77fa52340d071aa51d77cd11f40f4e58d6c3879ffe71fbb?s=96&d=mm&r=g\",\"caption\":\"Linda Hsieh\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Wood Mackenzie: ENI lays foundation for Middle East portfolio with ADNOC deals - Drilling Contractor","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020","og_locale":"en_US","og_type":"article","og_title":"Wood Mackenzie: ENI lays foundation for Middle East portfolio with ADNOC deals - Drilling Contractor","og_description":"Italian major ENI signed two concession agreements with ADNOC. ENI took a 5% stake in the Lower Zakum oilfield, offshore Abu Dhabi, and 10% in the Umm Shaif and Nasr oil, gas and condensate fields, also offshore Abu Dhabi, for a total participation fee of approximately $875 million. The agreements run for 40 years...","og_url":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020","og_site_name":"Drilling Contractor","article_publisher":"http:\/\/www.facebook.com\/pages\/Drilling-Contractor-Magazine\/112140675010","article_published_time":"2018-03-12T16:07:44+00:00","article_modified_time":"2018-03-14T13:29:06+00:00","og_image":[{"width":620,"height":330,"url":"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/10\/default-img-featured-deepwater.jpg","type":"image\/jpeg"}],"author":"Linda Hsieh","twitter_card":"summary_large_image","twitter_creator":"@DC_Magazine","twitter_site":"@DC_Magazine","twitter_misc":{"Written by":"Linda Hsieh","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#article","isPartOf":{"@id":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020"},"author":{"name":"Linda Hsieh","@id":"https:\/\/drillingcontractor.org\/#\/schema\/person\/0c50e65aada9b2828221cb1163cdd0ad"},"headline":"Wood Mackenzie: ENI lays foundation for Middle East portfolio with ADNOC deals","datePublished":"2018-03-12T16:07:44+00:00","dateModified":"2018-03-14T13:29:06+00:00","mainEntityOfPage":{"@id":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020"},"wordCount":221,"commentCount":0,"publisher":{"@id":"https:\/\/drillingcontractor.org\/#organization"},"image":{"@id":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#primaryimage"},"thumbnailUrl":"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/10\/default-img-featured-deepwater.jpg","articleSection":["Global and Regional Markets","News","The Offshore Frontier"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#respond"]}]},{"@type":"WebPage","@id":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020","url":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020","name":"Wood Mackenzie: ENI lays foundation for Middle East portfolio with ADNOC deals - Drilling Contractor","isPartOf":{"@id":"https:\/\/drillingcontractor.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#primaryimage"},"image":{"@id":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#primaryimage"},"thumbnailUrl":"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/10\/default-img-featured-deepwater.jpg","datePublished":"2018-03-12T16:07:44+00:00","dateModified":"2018-03-14T13:29:06+00:00","breadcrumb":{"@id":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#primaryimage","url":"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/10\/default-img-featured-deepwater.jpg","contentUrl":"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/10\/default-img-featured-deepwater.jpg","width":620,"height":330},{"@type":"BreadcrumbList","@id":"https:\/\/drillingcontractor.org\/wood-mackenzie-eni-lays-foundation-middle-east-portfolio-adnoc-deals-46020#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/drillingcontractor.org\/"},{"@type":"ListItem","position":2,"name":"Wood Mackenzie: ENI lays foundation for Middle East portfolio with ADNOC deals"}]},{"@type":"WebSite","@id":"https:\/\/drillingcontractor.org\/#website","url":"https:\/\/drillingcontractor.org\/","name":"Drilling Contractor","description":"Get the latest oil drilling news with DrillingContractor.org","publisher":{"@id":"https:\/\/drillingcontractor.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/drillingcontractor.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/drillingcontractor.org\/#organization","name":"Drilling Contractor Magazine","url":"https:\/\/drillingcontractor.org\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drillingcontractor.org\/#\/schema\/logo\/image\/","url":"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/04\/logo-login2.jpg","contentUrl":"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/04\/logo-login2.jpg","width":200,"height":68,"caption":"Drilling Contractor Magazine"},"image":{"@id":"https:\/\/drillingcontractor.org\/#\/schema\/logo\/image\/"},"sameAs":["http:\/\/www.facebook.com\/pages\/Drilling-Contractor-Magazine\/112140675010","https:\/\/x.com\/DC_Magazine","https:\/\/www.linkedin.com\/grp\/home?gid=1810343","https:\/\/www.youtube.com\/channel\/UC0xXkxpL1WTf99-oLW8Z9hg"]},{"@type":"Person","@id":"https:\/\/drillingcontractor.org\/#\/schema\/person\/0c50e65aada9b2828221cb1163cdd0ad","name":"Linda Hsieh","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drillingcontractor.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d31099eff4063931f77fa52340d071aa51d77cd11f40f4e58d6c3879ffe71fbb?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d31099eff4063931f77fa52340d071aa51d77cd11f40f4e58d6c3879ffe71fbb?s=96&d=mm&r=g","caption":"Linda Hsieh"}}]}},"jetpack_featured_media_url":"https:\/\/drillingcontractor.org\/wp-content\/uploads\/2015\/10\/default-img-featured-deepwater.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/drillingcontractor.org\/wp-json\/wp\/v2\/posts\/46020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drillingcontractor.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drillingcontractor.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drillingcontractor.org\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/drillingcontractor.org\/wp-json\/wp\/v2\/comments?post=46020"}],"version-history":[{"count":0,"href":"https:\/\/drillingcontractor.org\/wp-json\/wp\/v2\/posts\/46020\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/drillingcontractor.org\/wp-json\/wp\/v2\/media\/37587"}],"wp:attachment":[{"href":"https:\/\/drillingcontractor.org\/wp-json\/wp\/v2\/media?parent=46020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drillingcontractor.org\/wp-json\/wp\/v2\/categories?post=46020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drillingcontractor.org\/wp-json\/wp\/v2\/tags?post=46020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}