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Eni SpA and PTT Exploration and Production Pcl have received rights for the exploration of oil and natural gas in Abu Dhabi. The energy majors have committed to invest at least $230 million to assess the offshore blocks. Once the production phase is reached, ADNOC will have the option to retain 60% of the fields. ADNOC’s CEO said “We are engaging with partners who actually put skin in the game”.
