Oman concluded an oil and gas exploration and production sharing deal with EnCana International Oman, under which the foreign firm will invest $17 million in exploring the Gulf country’s blocks 3 and 4, spread over 38,875 square kilometers.
The three-year deal signed with the local subsidiary of Canadian energy group EnCana corporation, is extendable, reported Reuters. EnCana is an independent oil and gas company with an enterprise value of approximately $19 billion.
The company is the largest producer and landholder in Western Canada and is a key player in Canada's emerging offshore East Coast basins. It is also the largest private sector oil producer in Ecuador and is the operator of a very large oil discovery in the United Kingdom, Central North Sea. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
