Sharjah: Sharjah National Oil Corporation (SNOC) has sealed a deal with Eni, an Italian energy company operating primarily in petroleum, natural gas, and petrochemicals, to grab a 30 percent stake in Block 7 in Ras Al Khaimah. This block covers 430 square kilometers and is buzzing with oil and gas exploration, highlighted by the drilling of the Fennec-01 well.
After the purchase, SNOC will own 30 percent of block 7, RAK Gas will own 10 percent, and Eni will own 60 percent as the operator.
The agreement with Eni, according to Sheikh Mohammed bin Ahmed Al Qasimi, Vice Chairman of the Sharjah Petroleum Council, intends to strengthen ongoing cooperation between the emirates of Sharjah and Ras Al Khaimah. In the near future, outstanding drilling results and more advancements are anticipated.
The chairman of the RAK Petroleum Authority, Sheikh Ahmed bin Saud bin Saqr Al Qasimi, emphasized that through strategic partnerships, Ras Al Khaimah, Sharjah, and Eni work together to support and stimulate the growth of the energy sector, which in turn promotes further growth in the region.
The agreement with Eni, according to Sheikh Mohammed bin Ahmed Al Qasimi, Vice Chairman of the Sharjah Petroleum Council, intends to strengthen ongoing cooperation between the emirates of Sharjah and Ras Al Khaimah. In the near future, outstanding drilling results and more advancements are anticipated.
The chairman of the RAK Petroleum Authority, Sheikh Ahmed bin Saud bin Saqr Al Qasimi, emphasized that through strategic partnerships, Ras Al Khaimah, Sharjah, and Eni work together to support and stimulate the growth of the energy sector, which in turn promotes further growth in the region.