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Sharjah National Oil Corporation (SNOC) has completed a deal to acquire from Eni a 30% participating interest in Block 7 in Ras Al Khaimah, which extends over an area of 430 square kilometres and sees significant activity in oil and gas exploration with the ongoing drilling of an exploratory well called Fennec-01.
Following the deal, Eni, as operator, owns 60% of block 7, SNOC 30%, and RAK Gas 10%
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