The MoU was signed by His Excellency Shaikh Mohamed bin Khalifa bin Ahmed Al Khalifa, Minister for Oil of the Kingdom of Bahrain and Chairman of Tatweer Petroleum, and Eni’s Chief Executive Officer, Claudio Descalzi. According to the statement, the agreement will see both companies collaborate in the energy sector by facilitating the joint assessment and launch of new initiatives in areas of mutual interest, including renewable energy, LNG supply and exploration.
In accordance with Bahrain’s national energy plan, renewable energy will be an area of particular interest in order to consider potential business opportunities.
In the LNG sector, Eni claims the collaboration will target a more sustainable and efficient energy mix to meet Bahrain’s future energy requirements. Eni’s know-how and expertise will also be leveraged to evaluate further exploration opportunities.
H.E. Shaikh Mohamed 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 Kingdom of Bahrain is keen to collaborate on joint projects and exchange ideas and experiences in common areas related to development programs in the oil and gas sector as well as the energy sector.”
Descalzi added: “This MoU clearly demonstrates Eni’s commitment to expanding its presence in Bahrain while pursuing Eni’s overall decarbonisation strategy, and forms part of the company’s transition towards green energy and the circular economy that has been underway since 2014. Eni aims to support the increase of low carbon energy sources in countries where it operates. In order to ensure long-term sustainability, Eni promotes the development of renewable energy and conducts scientific and technological research.”