Medco's M. East unit signs Oman gas deal
Tuesday, February 8 2005 - 02:33 AM WIB
Al Khaimah Gas Commission (Rakgas) signed a framework agreement on Monday with Novus Oman for the processing and purchase of gas from West Bukha field, the United Arab Emirates state news agency WAM said.
It said the agreement would allow the first phase of development drilling to begin in West Bukha at the mouth of the Gulf. The agency gave no details of volumes covered by the deal.
Ras al-Khaimah is one of the emirates of the UAE. Rakgas already processes gas from Bukha, a sister field.
Novus Oman is a unit of Indonesia's Medco Energi .
WAM said Novus, along partners LG Engineering and Heritage, plans to drill a development well this year.
Oman and Iran have been trying for years to carve up the shared gas field at the mouth of the Gulf -- called Hengam in Iran and West Bukha in Oman -- which lies between them in the strategic Strait of Hormuz.(*)