Eni secures onshore exploration block in UAE

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 said in a statement: “The acquisition of Block 7 represents another step in Eni’s positioning in the Middle East and in the UAE in particular, where Eni holds the largest exploration acreage among the IOCs present in the country with more than 26,000km² gross, comprising eight exploration blocks onshore and in shallow waters offshore across the Emirates of Abu Dhabi, Ras Al Khaimah and Sharjah.”

The firm said that the Block 7 represents an underexplored acreage in a complex thrust belt geological setting.

Eni expects the existing gas processing facilities in the Emirate would support the rapid development of potential discoveries.

The Italian firm already has a presence in the Emirate of Ras Al Khaimah, as the operator of offshore Block A.

Preparations for drilling operations have commenced at Block A, following an initial geological and geophysical study period.

Last month, Eni and Algerian state company Sonatrach signed deals in the upstream, research and development and decarbonisation sectors.

The deals cover the exploration and production, research and development, decarbonisation and training fields.