Middle East Economic Survey

VOL. XLVIII

No 10

7-March-2005

OMAN

IFC Lends $40Mn To Omans Daleel Petroleum For Block 5 Development

The International Finance Corporation (IFC), the private sector arm of the World Bank (WB), announced on 2 March that it had agreed to provide $40mn in long-term corporate financing to Daleel Petroleum which explores for and produces oil in Block 5 of northwest Oman. Daleel Petroleum is a 50:50 joint venture between China National Petroleum Corporation (CNPC) subsidiary...