Italian major Eni has reduced its stake in Abu Dhabi’s Ghasha offshore sour gas concession from 25% to 10%. MEES understands that the 15% stake was bought by Adnoc, lifting its position at Ghasha to 70%, with the state-firm happy to strengthen its holding at the concession. It’s unclear how much Adnoc paid for the stake. The other partners at Ghasha are Wintershall Dea (10%), OMV (5%) and Lukoil (5%).

A spokesperson for Eni emphasized that the firm remains fully committed to the Ghasha concession, and that the farm-down is aimed at reallocating resources into other assets. “Equity gas production is one of the pillars which Eni has been leveraging to face the energy trilemma, particularly within the current geopolitical developments. (CONTINUED - 221 WORDS)