RAK Petroleum enters Tunisia

02 March 2010

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.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications