Hunt Oil Signs for Exploration in Oman

Source: www.gulfoilandgas.com 6/15/2004, Location: Middle East

The Government of the Sultanate of Oman and Hunt Oman Musandam Exploration Company today signed an Exploration and Production Sharing Agreement for the exclusive right to carry out petroleum exploration and production operations in the Block 40 Area of offshore Oman.

The Agreement will be effective upon issuance of the Royal Decree by His Majesty The Sultan of Oman ratifying the agreement. A spokesman for Hunt Oil Company says operations are expected to commence soon after the contract becomes effective.

Block 40 covers approximately 6,100 square kilometers of the Offshore part of the Musandam peninsula, the northern tip of Oman, and covers the Straits of Hormuz where they pass through Omani waters.

Hunt Oman Musandam Exploration Company is an affiliate of Hunt Oil Company, a privately held independent oil and gas firm based in Dallas, Texas, led by Ray L. Hunt.



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