His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, attended the signing ceremony for a historic agreement for Ras Al Khaimah Government-owned RAKGas to become Zanzibar’s first oil and gas production partner.
H.H. Sheikh Saud held a private meeting with His Excellency Dr. Ali Mohamed Shein, President of the Revolutionary Government of Zanzibar, before both attended the signing ceremony to offer their support to the Production Sharing Agreement between RAKGas’s international subsidiary RAKGas Zanzibar Limited and the Zanzibar Petroleum Development Company.
The agreement between Zanzibar, a semi-autonomous region of Tanzania, and RAKGAS centers around a 11,868 square kilometer acreage known as the Pemba Zanzibar Block.
H.H. Sheikh Saud said: “Ras Al Khaimah and Zanzibar have enjoyed strong ties for several years and this Production Sharing Agreement is the culmination of the efforts of two friendly regions to cooperate for the benefit of their people.
“RAKGas being chosen by Zanzibar for its first foray into oil and gas exploration highlights the expertise of RAKGas and the depth of trust between us.”
RAKGas International Chief Executive Officer Kamal Ataya said: “This Production Sharing Agreement between RAKGas and the Government of Zanzibar is an important milestone for everyone involved and heralds a fruitful partnership between Ras Al Khaimah and Zanzibar.
“RAKGas is proud to be the company to enter into Zanzibar’s first-ever exploration project.”
For more information on RAKGAS, visit www.rakgas.ae.