Reuters: Shell says Oman Mukhaizna stake to drop to 17 pct
Wednesday 22 June 2005
LONDON (Reuters) – Royal Dutch/Shell group said on Tuesday it was to get a 17 percent stake in a new production sharing agreement covering Oman’s Mukhaizna oilfield, compared to the 34 percent it currently holds.
U.S. oil firm Occidental (OXY.N: Quote, Profile, Research) will receive a 45 percent stake under the terms of the new deal which has been agreed in principle and be named project operator, a Shell spokesman said.
France’s Total (TOTF.PA: Quote, Profile, Research) will receive 2 percent, down from its current 4 percent. State-owned Oman Oil Company will hold 20 percent. The United Arab Emirates’s Liwa Energy will have 15 percent and Partex Oman will own 1 percent. read more
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