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Prior to the agreement Pearl held 42.5% participating interest in SC43. In exchange for the transfer, Pearl will carry Premier’s share of the costs of the Monte Cristo-1 exploration well, which is scheduled to be …Read full article » United Arab Emirates: Wednesday, October 03 - 2007 @ 16:47
Operating profit jumped to AED 160 million from AED 29 million a year ago. Aabar reported a net profit to shareholders of AED 23 million for the quarter, with basic and diluted earnings per share …Read full article » United Arab Emirates: Wednesday, August 01 - 2007 @ 08:19
Under the terms of the transaction, 100% of Aabar’s interest in Dalma will be transferred to GulfCap, a subsidiary of GulfCap FZC. The sale price for Dalma was established following a bid process in which …Read full article » United Arab Emirates: Monday, July 30 - 2007 @ 08:53
The agreement is subject to government approval.
Block 07 & 08/97 covers an area of 4,915 square kilometres and is located at the southern margin of the Nam Con Son Basin. It lies on a trend …Read full article » United Arab Emirates: Monday, July 02 - 2007 @ 13:52
Under the terms of the transaction, AWE will be responsible, among other items, for the drilling costs for the first two (2) exploration wells in the Bulu PSC contract area, up to a maximum aggregate …Read full article » United Arab Emirates: Sunday, June 17 - 2007 @ 13:45
The MS-3 well was drilled to a total depth of 5,000 feet and encountered 122.5 feet of net gas pay over a gross pay interval of 260 feet. Under testing, the well flowed at a …Read full article » United Arab Emirates: Monday, May 28 - 2007 @ 15:50
Mengoepeh South-1 was drilled to a total measured depth of 1,502 metres and encountered 70 metres of net oil pay over a gross pay interval of 188 metres true vertical depth. Four drill stem tests …Read full article » United Arab Emirates: Thursday, May 24 - 2007 @ 16:37
Production at Jasmine C commenced on 16 May at an initial rate of 1,450 barrels of oil per day (“bopd”) from a single development well, C1. Two additional development wells, C2 and C3, will be …Read full article » United Arab Emirates: Sunday, May 20 - 2007 @ 14:19
First-quarter revenue increased to AED 379 million from AED 66 million in the corresponding period last year and operating profit increased to AED 110 million from AED 3 million.
Aabar attributed the growth in revenue and …Read full article » United Arab Emirates: Wednesday, May 16 - 2007 @ 08:55
Aabar’s operating profit increased to AED 234 million from AED 3 million in 2005.
The second AGM yesterday endorsed recommendations from the Board of Directors regarding the company’s future direction, key appointments and dividend …Read full article » United Arab Emirates: Tuesday, May 08 - 2007 @ 10:03