VOL. XL

No. 25

23-June-1997

SAUDI ARABIA

Nimir Petroleum Signs 25-Year E & P Agreement With Kazakstan

The privately-owned Saudi Arabian oil company, Nimir Petroleum Co. Ltd.,announced on 17 June that it has signed a 25-year production-sharing agreement withKazakstan covering the North Buzachi field, which is located south of the giant Tengizfield on the Buzachi peninsula near the Kalamkas and Karazhanbas fields. The contact,which was signed on 29 May, calls for Nimir to invest $103.5mn...