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Chairman's Message
During 2010, the Company again posted record production and operating results while continuing to sharpen its focus on growing a successful Middle East and North Africa oil and gas enterprise.
Highlights include:
- Second consecutive profitable year, with net earnings of AED 56.3 million.
- Produced a record 3.2 million barrels of oil and condensate, 10.3 billion cubic feet of dry gas and 88 thousand barrels of LPG during the year.
- Shareholding in DNO International ASA reached 30 percent and RAK Petroleum has two seats on the DNO International ASA board of directors.
- Exchanged nearly 100 million EDRAK shares for remaining interest in the Saleh Block, Ras Al Khaimah. Sold remaining du (Emirates Integrated Telecommunications Company PJSC) shares.
Bijan Mossavar-Rahmani
Chairman of the Board of Directors and Chief Executive Officer
RAK Petroleum Public Company Limited