PDO Estimates Annual Exploration Expenditure at $300mn
The Managing Director of Petroleum Development Oman (PDO), Mr. M. Pink, hasdisclosed that the company - owned 60% by the Omani Government, 34% by ShellPetroleum Ltd., 4% by Total Compagnie Francaise des Petroles and 2% Partex(Oman) Corporation - estimates that its annual expenditure on exploration willbe in the region of $300mn. This allocation will be spent mostly on drillingoperations, although PDO does...
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