VOL. XXXIII

NO. 50

17-SEPTEMBER-1990

Somalia

Mobil Enters Joint-Venture for Somali Offshore Oil Exploration

A unit of the Mobil Corporation, Mobil Exploration Somalia, has entered ajoint-venture agreement with Pecten Somalia Company, part of US Shell, for thepurpose of offshore exploration within a 14.9mn acre block stretching 1,200miles along Somalia's Indian Ocean coast. Pecten has already conducted seismicevaluation of the block and will share the exploration risk and resultingproduction...