NO. 38



Usoco/Panoco to Develop Suakin Offshore Gas Field

The United States Oil Company (Usoco) - which acquired a 49% equity interestin the 13,000 sq. km. offshore concession in the Suakin area in North Sudanawarded to Panoco Sudan Ltd., a subsidiary of the Swiss-based Panoco Oil Co.,early in March this year (MEES, 21 March) announced in New York on 15 June thatthe joint venture has decided to develop the Suakin gas field beginning in thefourth quarter of this year and...