Ras al-Khaimah invites exploration bids

The UAE's northernmost emirate has opened bids for its onshore and offshore acreage, and is expected to draw interest from companies already operating in the Gulf state The UAE's northernmost emirate has opened bids for its onshore and offshore acreage, and is expected to draw interest from companies already operating in the Gulf state.
By Verity Ratcliffe 4 April 2018 0 30272
Ras al-Khaimah in the UAE. Ras al-Khaimah in the UAE. (Bob McCaffrey, Flickr)

The first licensing round held by Ras al-Khaimah, the northernmost emirate of the UAE, is expected to draw bids from IOCs already operating in the Gulf state. Having invited IOCs to submit bids to explore its onshore and offshore acreage on Monday, the emirate has also established a new regulator to oversee the round and designed an exploration-and-production-sharing agreement (EPSA) to boost interest.  

The licensing round is being run by the emirate’s national oil company, RAK Gas, and comprises seven blocks. A multi-client 3D survey led...

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