VOL XL

No. 03

20-January-1997

IRAN/OMAN

Iran And Oman Reach Agreement On Division Of SharedHormuz Area Field

Iran and Oman have at last agreed a unitizationarrangement for the Hengam E/West Bukha structure located offshore in the Strait ofHormuz. The agreement follows a nearly two-year old decision to proceed with jointdevelopment of the shared gas/condensate field (MEES, 13 February 1995). Accordingto senior NIOC officials, the two sides have agreed to share the field on the basis of an80-20...