RAK Petroleum enters Tunisia

UAE-based RAK Petroleum has signed an agreement to join an offshore exploration license in Tunisia, Reuters has reported. The company acquired a 30% interest in the Hammamet Offshore license from Canada-based firm Storm Ventures International which will retain a 35% operating interest. Cooper Energy of Australia holds the remaining 35% interest in the license. 'This is the first exploration project undertaken by RAK Petroleum outside of Oman and the UAE,' Abdulaziz Al Ghurair, Chairman of RAK Petroleum said.