The Canadian oil company, Berkley Petroleum Corporation, is expected to invest around 10 million dollars in exploration activities in two areas in south-west Oman, reported the Oman Observer newspaper.
The firm's decision to participate in the exploration of oil and gas in the two blocks was ratified by an Omani royal decree last month, said the paper.
Berkley Petroleum has entered into an agreement with Phillips Petroleum and Maersk Oil Oman to jointly explore the two areas.
The arrangement leaves Phillips Petroleum with a 50 percent working interest in the two area, with Maersk Oil and Berkley Petroleum holding 25 percent interests apiece – Albawaba.com
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