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 manage petroleum rights in the emirate.
Overall, seven blocks are up for grabs, four shallow-water offshore blocks, two onshore blocks and one (Block 5) which spans both onshore and offshore (see map). Bids have to be submitted by August 2018, with awards set for November. (CONTINUED - 726 WORDS)
