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Oman signs exploration agreement with Occidental Oil and Gas
Oman, Business, 6/16/1998
Oman granted an Omani branch of a US-based company a petroleum exploration and production agreement in a northern coastal area of 2,485 kilometers in the sultanate.
The Omani Ministry of Petroleum said in a statement yesterday that Occidental Oil and Gas Ltd. pledged to invest nearly $25 million to implement exploration programs, geological studies and geographical surveyals.
Muscat completed at the beginning of the current month a petroleum agreement that includes 5,000 cubic kilometers with the Triton Oman Company Inc. It also intends to grant the US company Amoco a license for exploration.
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