Middle East Economic Survey


No 41



RAK Petroleum Increases Stake In Saleh Field

RAK Petroleum, the UAE based oil and gas exploration and production company, announced on 5 October that it had signed an agreement with the Ras al-Khaimah Gas Commission (Rakgas) to raise its share in the Saleh field from 40% to 100%, in exchange for 100mn shares in RAK Education Company (EDRAK). The signing ceremony was attended by Crown Prince and Deputy Ruler of the Emirate of Ras...