State-owned RAK Gas is currently preparing the scope and ironing out the details of the oil and gas concession licensing round it plans to launch in March, according to a source.

Last month, MEED reported that the Ras Al Khaimah (RAK) government is planning to offer onshore and offshore oil and gas blocks located in the emirate to exploration and production (E&P) firms, in a bid to boost the emirate’s upstream oil and gas sectors.

RAK Gas, the operator, had said it will conduct the licensing round simultaneously in Ras Al Khaimah and London through data rooms containing extensive information on the 4 offshore and 3 onshore blocks up for grabs.

“We are planning to open the data rooms for the licensing round in late March. There are a few activities that we need to complete before going public (with the information) in the next one or two weeks. There are a number of things to do with the process and the type of offering,” the source has told MEED.

The source revealed that RAK Gas is “currently finalising a flyer”, which it will make public in 2-3 weeks, “containing detailed information on the process and the type and number of companies” participating in the licensing round.

According to RAK Gas’ website, the data rooms containing information about the concession areas will be open till July, with the bid submissions taking place in August. The period until the awarding of the concession licenses in November will be open for making queries and bid marking.

The source said RAK Gas has not shortlisted companies to qualify for submitting bids.

The firm will be “hosting an information session late in February in London in conjunction with the IP Week (event in London between 20-22 February),” he said, adding that “in terms of local communication we are still reviewing whether to have an event in Dubai or in RAK, or approaching companies one-to-one.”