Elf Aquitaine Oman Relinquishes Offshore Concession in Musandam Peninsula 

Elf Aquitaine Oman has decided to relinquish its offshore concession in the Musandam peninsula which covers an area of 4,002 sq. kms. in the Strait of Hormuz. It had drilled three wells in the concession, acquired in December 1973, two of which the Bukha and the Henjam discoveries had located gas and condensate.

The Bukha gas discovery struck an extensive reservoir of condensate of about 50° API and...