Eni wins UAE onshore block
Eni has secured rights to onshore Block 7 in the Ras Al Khaimah emirate of the UAE, the Italian major said on April 19, noting that the area shared geological characteristics with its recent Mahani discovery in the adjacent Sharjah emirate.
The company has signed a production-sharing agreement for the block with the Ras Al Khaimah Petroleum Authority. Eni will serve as operator with a 90% interest, while Ras Al Khaimah's national oil company RAK Gas will have a 10% interest.
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The 430-km2 block "represents an underexplored acreage in a complex thrust belt geological setting, similar to that of the recent discovery of Mahani in the adjacent Sharjah emirate," Eni said. The Mahani find was made in January 2020 and brought into production a year later.
"The newly acquired 3D seismic will allow the joint venture to assess the geological setting of the area and eventually unlock its hydrocarbon potential," Eni said. "The presence of the existing gas processing facilities in the emirate would also allow a rapid development of any discoveries."
Eni is the largest acreage holder in the UAE, with rights to over 26,000 km2 of land comprising eight exploration blocks onshore and in shallow waters offshore in the emirates of Abu Dhabi, Ras Al Khaimah and Sharjah.