Oman, US firm in gas exploration deal
Dubai, April 12, 2009
Oman has signed a gas exploration deal with US-based Harvest Natural Resources for the Al-Ghubar block, Oman's Economy Ministry said in a statement on Sunday.
Under the agreement, Harvest Energy is committed to reappraise seismic data and drill exploration wells in the block, the ministry said.
Harvest would spend around $30 million to develop the block over three years, daily newspaper the Oman Observer reported.
Oman pumped about 750,000 barrels per day of oil in 2008. It has offered oil and gas blocks in tenders to international oil companies as part of efforts to arrest declining output.-Reuters