VOL. XL

No. 39

29-September-1997

QATAR

Australia's Novus Farms In With Pennzoil In Qatar's Offshore Block 8

The Australian firm Novus Petroleum Ltd. announced on 24 September that it has reachedan agreement with the US firm Pennzoil to farm in with a 25% share in Qatar's offshoreblock 8. Pennzoil will remain as operator and will hold the remaining 75% of the shares.Pennzoil signed a production sharing agreement with the state-owned Qatar GeneralPetroleum Corporation (QGPC) in July 1994 under...