Sharjah’s SNOC acquires stake in Eni block in UAE

SHARJAH, May 10, 2024 – Sharjah National Oil Corporation has acquired a 30% participating interest from Eni in a block in Ras Al Khaimah, UAE, local media reported on Friday.

Eni has operated Block 7 since 2021 and will retain a 60% share. After SNOC’s 30%, RAK Gas will continue to hold the remaining 10%.

The 430-kilometre block is currently undergoing exploration, with the Fennec-01 well having been drilled.

Eni and SNOC also collaborate on the emirate’s onshore Concession Area B, where production from the Mahani field began in 2021.

Regarding Block 7, SNOC is looking forward to “exceptional results in drilling and further progress in the near future,” Sharjah Petroleum Council vice-chairman Sheikh Mohammed bin Ahmed Al Qasimi was quoted as saying.

100% government-owned SNOC is the main supplier of natural gas in Sharjah. The company explores, develops, produces, procures, stores and transports oil and gas.

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