Rakgas, the energy-producing company owned by the government of the UAE emirate of Ras al-Khaimah, has entered a formal production-sharing agreement with Zanzibar’s government for an offshore gas concession in the African country.
Rakgas will share production from the 11,868 square-kilometres acreage, known as the Pemba Zanzibar block, with the state-owned Zanzibar Petroleum Development Company.
Rakgas said this is the first such agreement Zanzibar has signed following its implementation of the Oil and Gas (Upstream) Act of 2016.
Ras al-Khaimah Ruler Sheikh Saud bin Saqr al-Qasimi was present at the signing ceremony in Zanzibar in late October.
Bell Geospace Enterprises, a UK-based gravity and gradiometry company, performed the survey and exploration work for the operators.
You might also like...
Kuwait launches oil and gas project portal
25 April 2024
Aramco receives proposals for offshore LTA pool
25 April 2024
Global AI market to top $1tn in 2030
25 April 2024
Morocco tenders Noor Midelt 2
25 April 2024
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.