Ras al-Khaimah’s first petroleum licensing round encompasses virtually all the emirate’s onshore and offshore territory. Production in the emirate never reached great heights and ceased altogether in 2016. Will the latest offering prove rejuvenative?

The UAE’s northernmost emirate Ras al-Khaimah (RAK) launched its first oil and gas licensing round on 1 April. The RAK government also established the Ras al-Khaimah Petroleum Authority to oversee the tendering process and...