Oman Approves E&P Agreement With Saudi Nimir Petroleum
The Sultan of Oman, Qaboos bin Sa'id, issued a decree law on 29March ratifying the production sharing agreement signed with Nimir Petroleum Company inJanuary covering the 15,000-sq. km. Block No. 3 in the northeastern part of the Sultanate(MEES, 3 February). The 25-year agreement obligates Nimir to spend a minimum of $50.5mn onits operations during an eight-year period covering the first and second...