The governments of Oman and Iran have agreed to cooperate in exploiting the offshore Hengam oil field. An Omani delegation is expected in Tehran shortly to survey various aspects of the joint project, reported IRNA. Oil extraction is anticipated to commence some time this year.
According to Oman’s Petroleum and Gas Minister, Muhammad Bin Hamad Bin Saif Al-Rumhi, oil company Nufs Oman has announced its readiness to do the drilling on Oman’s portion of the Hengam field.
The Hengam oil field is located between Iran and Oman in the Strait of Hormuz, at a twelve kilometer distance to the north of Oman’s shore of the Sea of Oman. It is estimated to have 1,800 billion cubic feet of gas and over 400 million barrels of crude oil. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
