DNO Deal Opens New Vistas for UAE's Rak

摘要

The past couple of years have not been especially fruitful for the new breed of upstream players that emerged in the Middle East in the mid-2000s. Companies like Kuwait Energy, Dana Gas and Abu Dhabi National Energy Co. (Taqa) were created to be more versatile investors and acquisition vehicles than the region's giant national oil companies, but have found long-term growth hard to come by. Now one of them, the United Arab Emirates' Rak Petroleum, has inked a deal wUh Norwegian independent DNO that could provide a model for its peers to follow (PIW Sep.13'10).