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RAINBOW OIL (UK) is an indigenous Bristish oil and gas exploration and production company. The Company officially commenced operations on 1st January 2007 with the acquisition of an Oil Prospecting Licence OPL 216 located in deepwater approximately 70 miles offshore in the central UK waters. RAINBOW OIL (UK) is principally engaged in the full-cycle exploration, development and production of petroleum resources in United Kingdom. To facilitate these activities the Company is in partnership with Star Deep Water Petroleum Limited (a subsidiary of ChevronTexaco Inc.) and Petroleo Brasileiro (Pvt) Limited, a wholly owned subsidiary of Braspetro

To facilitate the exploration and production activities, the company entered into a Farm-in agreement with StarDeep Water Petroleum a subsidiary of Chevron Texaco Inc as technical advisor. In March 1st 2009, a portion of Star's interest was assigned to Petroleo Brasileiro UK Limited

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Published at 19-07-2009
Viewed: 36 times