Oman seeks cooperation in oil exploration with Chinese firms

Sep 29, 2005 02:00 AM

Oman welcomes Chinese firms to further cooperation with Omani counterparts in oil and gas exploration, petrochemical, metallurgical, mining and fishery sectors in Oman.
At the China-Oman trade fair held recently in Beijing, Omani minister for industry and commerce said that the trade volume between the two countries reached $ 4.5 bn in 2004, ranking the third among the Arabic countries. At the same time, Oman has become the largest exporter of oil products to China.

The minister said in recent years, the two countries have further developed bilateral trade and economic relations. Omani chamber of commerce and industry has organized several delegations to China for business talks and signed quite a number of trade contracts.
At present, more than 30 Chinese companies have launched their business in Oman.

While seeking for cooperation with Chinese firms in oil and gas exploration, petrochemical and other fields, Oman also likes to learn from successful experiences of Chinese firms in mineral mining, shipbuilding and the development of small and medium-sized enterprises, the minister said.
It is reported that in 2003, Oman's total value of production in national economy stood at $ 21.7 bn with a growth rate at 6.9 % and per capita income of $ 9,260. Its revenue of oil and natural gas production accounted for 72.7 % of the government's total.

Source: Xinhua News Agency
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