VOL. XLV

No 23

10-June-2002

UAE

Umm al-Quwain/Ajman/SharjahGas Development Awaits Atlantis Sale Outcome

Thejoint development of gas reserves offshore Umm al-Quwain,Sharjah and Ajman is awaiting the outcome of talks between PetroleumGeo-Services (PGS) and China National Chemical Import and Export Corporation (Sinochem) over the sale of PGSssubsidiary, Atlantis Holding, to the Chinese firm. MEES learns that UAE Offsets Group (UOG) has an agreement withAtlantis to buy gas from the proposed offshore...