Gulf Stream Resources, to win Oman oil deal

Oman signed a 20 million oil exploration and production agreement with Canada's Gulf Stream Resources Ltd., a statement by the ministry of petroleum and minerals said.

"The Canadian company has been awarded exploration of the Sultanate (of Oman)," the statement said.

It said the agreement commits the Canadian company to spend at least 20 million US dollars over the next six years on exploration programs which include drilling three exploratory wells.