The Government of the Emirates of Sharjah and BP Sharjah Limited have concluded a farm-out agreement with RAK Petroleum

SHARJAH, 8 July 2008--The Government of the Emirate of Sharjah and BP Sharjah Limited have concluded a farm-out agreement for 20 years with RAK Petroleum Public Company Limited 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.