Italian oil and gas company Eni has signed an exploration and production sharing agreement covering Block A Offshore Ras Al Khaimah, UAE, as well as the relevant joint operating agreement.
The agreement was signed between Eni and Nishant Dighe, Chief Executive of the RAK Petroleum Authority, in the presence of Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, the Italian oil company said on Thursday.
Block A covers an area of 2,412 km2 offshore Ras Al Khaimah, with water depths ranging from 10 to 90 meters.
Eni will act as the operator with a 90% participating interest and Ras Al Khaimah’s National Oil Company RAK GAS as a partner with a 10% stake.
“The entry into the Emirate of Ras Al Khaimah represents a further step in Eni’s positioning in the Middle East and the establishment of the company in the United Arab Emirates where Eni already operates in Abu Dhabi and Sharjah,” Eni said.
Eni is also present in Oman, Lebanon, Iraq and Bahrain.
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