Middle East Economic Survey


No 15



RAK Petroleum Increases Holding In Oman Through Purchase Of Eagle

RAK Petroleum of the UAE has bought Eagle Energy (Oman) Limited and its 10% interest in Omans Block 8 from the UKs Heritage Oil Limited for $28m, the two companies announced on 8 April. The purchase raises RAKs share in the block which it operates to 50%. 'Abd al-'Aziz al-Ghurair, Chairman of RAK Petroleum, said that the acquisition underscores our commitment to investing...