SHARE Abu Dhabi National Oil Company (Adnoc) awarded exploration rights for Abu Dhabi’s Offshore Block 3 to a consortium led by subsidiaries of Italy's Eni and Thailand's PTT Exploration and Production Public Company (PTTEP). Eni will operate the exploration phase of the concession but PTTEP and Eni will collectively hold a 100 per cent stake in the exploration phase. They will invest up to Dh1.51 billion ($412 million) towards exploration and appraisal drilling, including a participation fee, to explore for and appraise oil and gas opportunities in Offshore Block 3, Adnoc said in a statement on Monday. Offshore Block 3 covers an area of 11,660 square kilometres northwest of Abu Dhabi city. New 3D seismic data for a part of the block, which, combined with its proximity to existing onshore oil and gas fields, suggests the concession area has promising potential, Adnoc said.