Middle East Economic Survey

VOL. LI

No 10

10-March-2008

UAE

Aabar Farms Out 20% Stake In Three Offshore Thai Concessions To Horizon Oil

Abu Dhabis Aabar Energy announced on 28 February that its wholly owned subsidiary Pearl Energy has entered into a farm-out agreement with Horizon Oil for its 20% participating interest in three offshore exploration concessions in the Gulf of Thailand. Under the terms of the agreement, Horizon will pay 40% of the seismic and drilling costs of the initial three-year...