Middle East Economic Survey

VOL. L

No 12

19-Mar-2007

UAE

RAK Petroleum To Acquire Indago Shares

Ras al-Khaimah (RAK) Petroleum on 14 March announced that it had entered into an agreement with Indago Petroleum to acquire all of Indagos exploration and production assets except for its 50% ownership in Blocks 31, 43a and 47. The transaction will be subject to Indago shareholder approval as well as certain customary closing conditions. Citigroup Global Markets and Millennium Finance are acting as the...