ID :
12059
Thu, 07/10/2008 - 16:02
Auther :
Shortlink :
https://oananews.org//node/12059
The shortlink copeid
Government of Sharjah, BP Sharjah ink farm-out agreement with RAK Petroleum
Sharjah, July 10, 2008 (WAM) - The Government of the Emirate of Sharjah and BP Sharjah Limited have concluded a farm-out agreement for 20 years with RAK Petroleum PCL to create a new, 34 sq km, East Sajaa Concession.
RAK Petroleum will drill for gas in the concession area, with any discoveries to be processed through the existing Sajaa Plant operated by BP Sharjah Limited. RAK Petroleum PCL holds a 55% stake and operatorship in the new concession, with the Government of Sharjah and BP Sharjah Limited holding27% and 18% respectively.
BP Sharjah Limited will continue to operate the main Sajaa Gas Concession, in which the Government of Sharjah holds 60% stake, and BP Sharjah Limitedholds 40% stake, and which includes the Sajaa, Moveyied and Kahaif fields.
H.H. Sheikh Ahmed Bin Sultan Al-Qasimi, Deputy Ruler of Sharjah and Chairman of Sharjah Petroleum Council, stated that: "The Government of Sharjah spares no efforts to encourage global and local oil companies participating in the exploration and production of oil and gas in the Emirate of Sharjah. The Government will lend all necessary efforts to help the oil and gas companies in achieving their goals with mutual benefits." Abdul-Aziz Al Ghurair, Chairman of the Board of RAK Petroleum PCL said: "
RAK Petroleum will drill for gas in the concession area, with any discoveries to be processed through the existing Sajaa Plant operated by BP Sharjah Limited. RAK Petroleum PCL holds a 55% stake and operatorship in the new concession, with the Government of Sharjah and BP Sharjah Limited holding27% and 18% respectively.
BP Sharjah Limited will continue to operate the main Sajaa Gas Concession, in which the Government of Sharjah holds 60% stake, and BP Sharjah Limitedholds 40% stake, and which includes the Sajaa, Moveyied and Kahaif fields.
H.H. Sheikh Ahmed Bin Sultan Al-Qasimi, Deputy Ruler of Sharjah and Chairman of Sharjah Petroleum Council, stated that: "The Government of Sharjah spares no efforts to encourage global and local oil companies participating in the exploration and production of oil and gas in the Emirate of Sharjah. The Government will lend all necessary efforts to help the oil and gas companies in achieving their goals with mutual benefits." Abdul-Aziz Al Ghurair, Chairman of the Board of RAK Petroleum PCL said: "
