Eni has signed an exploration and production sharing agreement covering Block A Offshore Ras Al Khaimah, 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 HH Sheikh Saud bin Saqr Al Qasimi, the UAE supreme council member and ruler of Ras Al Khaimah.
Block A covers an area of 2,412 sq km offshore Ras Al Khaimah, with water depths ranging from 10 to 90 metres.
Eni is expected to act as an operator with a 90 per cent participating interest and Ras Al Khaimah’s National Oil Company RAK GAS as a partner with a 10 per cent 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 UAE where Eni already operates in Abu Dhabi and Sharjah.