VOL. XLIV

No 47

19-November-2001

OMAN

Hunt Oil Signs Offshore E&P Agreement

Oman痴 Oil and Gas Ministryannounced on 14 November that it had signed an oil and gas exploration andproduction (E&P) agreement with the US痴 Hunt Oil for offshore Block 50 inthe Gulf of Masirah close to Masirah Island in the Arabian Sea. Under thefour-year renewable agreement Hunt will spend between $18mn and $26mn on exploration.The Omani Government will carry no investment risk during the explorationperiod. Oman痴...