Middle East Economic Survey


No 34



Repsol Farms Into RAKs Block 47 In Oman

RAK Petroleum announced on 16 August that it has signed a farm-out agreement with Spains Repsol Exploration, under which the latter will acquire a 50% stake in Omans Block 47. The UAE-based company will retain operatorship of the onshore block. The agreement, which is still subject to government approval, ends a 16-month search by RAK to find a new partner after UK-based Indago Petroleum pulled out...