Exploration and Production-Sharing Agreements for the Three Rub'al-Khali Gas Exploration Tracts to Be Signed on 7 March

摘要

The agreements for the three gas exploration contracts in the Rub'al-Khali awarded on 26,27,and 28 January respectively to Lukoil of Russia,Sinopec of China and a consortium composed of Eni of Italy and Repsol YPF of Spain,all within the framework of joint ventures with Saudi Aramco,will be signed in Riyadh on 7 March,according to the local newspaper Al Watan.In a statement issued on 28 January,the Oil Minister,Mr.Ali al-Naimi,announced that his Ministry had assigned licenses for contract areas "A","B" and "C" in the north of the Rub'al-Khali desert to the following companies:Area A (29,900 sq km) to Lukoil;Area B (38,800 sq km) to Sinopec;and Area C (52,000 sq km) to Eni/Repsol YPF.