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).
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.