Eni and Nishant Dighe, Chief Executive of RAK Petroleum Authority, in the presence of the ruler of the Emirate of Ras Al Khaimah, Sheikh Saud Bin Saqr Al Qasimi, today signed an Exploration and Production Sharing Agreement (EPSA), and the respective Joint Operating Agreement , which sanctions the assignment to Eni of the exploration rights of Block A, offshore the Emirate.
Block A extends over an area of 2.412 km2 in deep waters between 10 and 90 meters. Eni will be the operator with a stake in 90%, while the state-owned company RAK GAS will be a partner with a stake in 10%.
The entry into the Ras Al Khaimah Emirate represents a further step in Eni's positioning in the Middle East and its establishment in the United Arab Emirates, where the company already operates in Abu Dhabi and Sharjah.
In the Middle East, Eni is also present in Oman, Lebanon, Iraq and Bahrain.