VOL. XLVI

No 25

23-June-2003

SAUDI ARABIA

Talks On Saudi CV3 Continue On Upstream-Only Basis

MEES learns that the Saudi Ministry of Petroleum is continuing discussions with the Core Venture 3 (CV3) Shell-led consortium on an exploration-only basis. A senior level meeting between the consortium and the Ministry of Petroleum, which is now handling all negotiations, is expected to take place in the next few days. MEES understands that Shell has demonstrated flexibility in negotiations and a genuine...