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Bloomberg
Eni SpA signed an exploration and production agreement wi-th emirate of Ras Al Khaimah, a further push by the Italian company into the Middle East.
The deal between the Rome-based hydrocarbons producer and RAK Petroleum Authority will cover Block A, which includes an area of 2,412 sq kms off the coast, according to a statement from Eni.
Eni will operate 90 percent of the block, while RAK Gas LLC will be in charge of the remaining 10 percent.
Earlier this year, Eni secured a deal on onshore exploration concession areas A, B & C in Sharjah. It also agreed to pay $3.3 billion in cash for 20 percent of Adnoc Refining.