Italy’s Eni has signed a memorandum of understanding (MoU) with Oman Oil Company (OOC) to jointly explore opportunities in oil and gas, including Block 52, offshore Oman, which was awarded to the two companies following an international bid round held in October 2016, Offshore Engineer informed.

According to Offshore Energy Today, the deal was signed in Milan by OOC’s CEO, Isam bin Saud Al Zadjali, and Eni’s CEO, Claudio Descalzi. The signing ceremony was attended by Oman’s Oil and Gas Minister and OOC’s Chairman, Mohammed Al Rumhi, Ambassador of the Sultanate of Oman to Italy, Ahmed Salim Baomar, and other executives and senior officials from both companies.

Al Zadjali said, “This MoU with Eni is another step taken by OOC to join hands with a strategic international partner seeking development areas in the oil and gas sector. The strategic position of OOC as Oman’s national oil company attracts major international oil companies’ investments in the Sultanate.”

Block 52, granted to both companies by Oman’s Ministry of Oil and Gas, covers 90,000km² and has water depths ranging from 10 to 2000 meters with liquid hydrocarbon potential, according to Eni.