OMAN-UAE

BHP of Australia Acquires Interests in Oman and Fujairah Concessions

BHP Petroleum of Australia has entered into a farm-in agreement, subject to approval by the Omani Government, with International Petroleum Corporation for a 60% interest in a 12mn acre concession in the Gulf of Oman. The farm-in involves the expenditure of more than $9mn on the reprocessing of some existing seismic information and the drilling of one well within the next 18 months. BHP, with a 60% interest in the...