UAE - Mubasher: Eni RAK, the subsidiary of Italy's Eni, has entered into an exploration and production sharing agreement with the Ras Al Khaimah Petroleum Authority for Block 7 located in the emirate's onshore.
Eni RAK will act as an operator for the Block with a 90% participating interest, while National Oil Company RAK Gas will be a partner with a 10% stake, according to a recent press release.
Spanning over an area of 430 km2, Block 7 is an underexplored acreage in a complex thrust belt geological setting, similar to that of the recent discovery of Mahani in Sharjah.
In the UAE, Eni holds the largest exploration acreage among the international oil companies present in the country with over 26,000 km2 gross, comprising eight exploration onshore and offshore blocks across Abu Dhabi, Ras Al Khaimah, and Sharjah.
