Rak Petroleum said Monday it has inked a deal to buy into an offshore exploration license in Tunisia in the UAE-based company's first foray outside the UAE or Oman (IOD Apr.9,p4). Rak said it acquired 30% of the Hammamet license from Canada's Storm Ventures International, which will retain a 35% operated interest. Australia's Cooper Energy will hold the remaining 35%. The acreage, in the Gulf of Hammamet, is home to two prospects that are ready to drill and several leads, Rak said. The first well is expected to be drilled in the third quarter.
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