Eni signs oil deal with Ras Al Khaimah

Italian oil firm Eni is expanding its footprint in the Middle East. (Reuters)
Updated 19 April 2019
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Eni signs oil deal with Ras Al Khaimah

  • The agreement covers Block A offshore Ras Al Khaimah, one of the seven United Arab Emirates
  • It was signed between Eni and the emirate’s RAK Petroleum Authority

MILAN: Eni has signed an exploration and production sharing agreement with the emirate of Ras Al Khaimah, the Italian oil company’s latest expansion in the Middle East.
The agreement covers Block A offshore Ras Al Khaimah, one of the seven United Arab Emirates (UAE). It was signed between Eni and the emirate’s RAK Petroleum Authority, Eni said in a statement.
Block A is an area of 2,412 sq km. Eni will be the block’s operator, with a 90 percent participating interest, while RAK GAS will hold the remaining 10 percent.
Earlier this year, Eni pledged $3.3 billion to buy part of the world’s fourth-biggest refinery in the UAE, increasing its own refining capacity by more than a third. 

In January, the oil company of Sharjah, another emirate, awarded Eni concessions in three areas. 

That same month Eni also signed an exploration and production agreement in neighboring Oman.


Libya’s NOC confirms 290,000 bpd production at Sharara offline

Updated 20 July 2019
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Libya’s NOC confirms 290,000 bpd production at Sharara offline

  • NOC said it was conducting a full-scale investigation into suspected closed valves in the Hamada area
  • It also said in a statement that production from El Feel oilfield was unaffected by the incident

LONDON: Libya’s National Oil Corporation confirmed on Saturday that production at its 290,000 barrels per day El Sharara oilfield was currently offline.
NOC said it was conducting a full-scale investigation into suspected closed valves in the Hamada area.
It also said in a statement that production from El Feel oilfield was unaffected by the incident.
Sources earlier told Reuters that production at El Sharara had halted on Friday due to a valve closure on the pipeline linking the field to Zawiya.