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Eni has bolstered its position in the Middle East by winning a new deal to take an onshore exploration block in the UAE emirate of Ras Al Khaimah.
Eni subsidiary Eni RAK inked exploration and production sharing agreement with Ras Al Khaimah Petroleum Authority for Block 7, which covers an area of 430km².
With a stake of 90%, Eni RAK will serve as the operator of the block. The remaining stake of 10% will be owned by Ras Al Khaimah’s National Oil Company RAK Gas.
Eni wins UAE onshore block
Apr 19, 2021 12:55:pm
Summary
by: Joseph Murphy
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Eni wins UAE onshore block
Eni has secured rights to onshore Block 7 in the Ras Al Khaimah emirate of the UAE, the Italian major said on April 19, noting that the area shared geological characteristics with its recent Mahani discovery in the adjacent Sharjah emirate.
The company has signed a production-sharing agreement for the block with the Ras Al Khaimah Petroleum Authority. Eni will serve as operator with a 90% interest, while Ras Al Khaimah s national oil company RAK Gas will have a 10% interest.
The 430-km
2 block represents an underexplored acreage in a complex thrust belt geological setting, similar to that of the recent discovery of Mahani in the adjacent Sharjah emirate, Eni said. The Mahani find was made in January 2020 and brought into production a year later.
UAE: Eni strengthens its presence in the Emirate of Ras Al Khaimah through the award of Onshore Block 7
19 Apr 2021
Block 7 located in the onshore of
Ras Al Khaimah, United Arab Emirates. The Exploration and Production Sharing Agreement was signed between the Chairman of Eni RAK, Fuad Krekshi, and the Chief Executive of the Ras Al Khaimah Petroleum Authority, Nishant Dighe, in the presence of His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council of the UAE and Ruler of Ras Al Khaimah.
Block 7 covers an area of 430 km2 onshore Ras Al Khaimah.
Eni RAK will act as Operator of the Block with a 90% participating interest and