Our heritage and history

Our predecessor company, RAK Petroleum PCL, was inspired by the vision of His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council of the United Arab Emirates and Ruler of Ras Al Khaimah, and founded in 2005 as a public company limited in Ras Al Khaimah Free Trade Zone with a mandate to invest broadly in the energy industry. The initial capital of AED 3 billion (USD 820 million) was raised through private placement with a small number of leading institutions, regional banks, investment funds and prominent individuals in the United Arab Emirates, Saudi Arabia, Bahrain, Kuwait and Oman.