document: On 16 January 2019, Polskie GÃ³rnictwo Naftowe i Gazownictwo SA (PGNiG SA), the Polish state-controlled company, announced that it had signed an Exploration and Production Sharing Agreement (EPSA) for the 619 sq km on-offshore Block 5 concession with Ras Al Khaimah Petroleum Authority and RAK GAS LLC. It is the first block to be awarded as part of the Ras Al Khaimah License Round 2018 (also termed the RAK-2018 Bid Round) for which bids were submitted at the end of November 2018. His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah and Ambassador of the Republic of Poland to the United Arab Emirates Robert Rostek witnessed the agreement being formalized by President of the PGNiG Management Board Piotr Wozniak and CEO of RAK GAS LLC Nishant Dighe.     The      contract enables work to be conducted in three, two-year exploration      stages, followed by a 30-year production phase. Financial commitments have      yet to be disclosed.  RAK      Gas LLC completed the acquisition of an extensive 2,200 sq km MC3D seismic      survey over unlicensed and underexplored offshore acreage in February      2018. Although the Polarcus-operated survey only intersected with a      marginal offshore section of the newly awarded block, it was reported that      the new data significantly improved understanding of the complex      geological setting in which it is located.
summary: PGNiG was awarded E&P rights to on/offshore block 5 (619kmÂ²).