OMAN

CPIC Awarded Concession Off Musandam Peninsula: Development Proceeding on Bukha Offshore Field

The Geneva-based consortium Consolidated Petroleum International Corporation (CPIC), composed of the Alfred Lundin Group (60%), Wintershall of West Germany (37.5%) and Cluff Oil of the UK (2.5%) has been awarded a 2,000-sq. km. (770 sq. miles) offshore production-sharing concession off the Musandam peninsula, opposite Bukha, in the Strait of Hormuz. The agreement was signed in Oman on 4 May...