Oman and Iran to select firms to develop shared offshore field

Jan 15, 1997 01:00 AM

Jan. 5, 1997 Oman and Iran have agreed in principle to select firms to develop their shared offshore Henjam gas and condensate field in the Strait of Hormuz. They agreed in principle to choose international firms to upgrade, utilise and develop the field. Henjam straddles the maritime border between the two oil producers and Iranian officials have estimated the field's gas reserves at one trillion cubic feet (30 bncm). Gas and condensate is already produced from the Omani side of the shared field -- where it is known as the Bukha field -- and exports are sent by pipeline to the United Arab Emirates. The two countries set up a joint ministerial committee to study the field's development in 1990 and agreed in 1995 to jointly develop the field. Henjam was first discovered in 1976 and Bukha in 1979.

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