Eni RAK will be the operator of the block, which covers an area of 430km2
Italian oil and gas company Eni, through its subsidiary Eni RAK, has secured Block 7 located in the onshore of Ras Al Khaimah, United Arab Emirates (UAE).
With a stake of 90%, Eni RAK will be the operator of the block, which covers an area of 430km2. The remaining stake of 10% will be owned by Ras Al Khaimah’s National Oil Company RAK Gas.
Eni already has a presence in the Emirate of Ras Al Khaimah, as the operator of offshore Block A. Preparations for drilling operations have started at the block, following an initial geological and geophysical study period.
Eni stated: “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 26,000 km2 gross, comprising eight exploration blocks onshore and in shallow waters offshore across the Emirates of Abu Dhabi, Ras Al Khaimah and Sharjah.”
According to the company, Block 7 represents an underexplored acreage in a complex thrust belt geological setting, which is similar to that of the recent discovery of Mahani in the adjacent Sharjah Emirate.
The joint venture, through the newly acquired 3D seismic, is expected to be able to assess the geological setting of the area.
In addition, the existing gas processing facilities in the Emirate are anticipated to support the rapid development of the any discoveries.
In January, Eni and Sharjah National Oil Corporation (SNOC) have commenced production from the Mahani field located in onshore Concession Area B of the Sharjah Emirate in UAE.
The Mahani gas and condensate field was discovered by SNOC and its partner Eni in January 2020 through the drilling of the Mahani-1 exploration well.