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FINANCIAL NEWS
RAK Petroleum posts $2.6m in Q2
10 Aug 2010
(MENAFN) RAK Petroleum, a leading oil and gas exploration and production company, has registered a $2.61 million net profit for the second quarter, its fifth consecutively profitable quarter.
The company said that it had set new record production levels during the quarter with a return to production of the Bukha field in Block 8, Sultanate of Oman.
Together, the two offshore fields in Block 8 operated by the Company, Bukha and West Bukha, produced in excess of 10,000 barrels a day of oil and associated liquids and 35 million cubic feet a day of gas.
RAK Petroleum holds a 50 percent interest in this block with Korea’s LG International Corporation holding the other 50 percent.
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