Firms to develop Oman gas fields
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Times Wire Services
Occidental Petroleum Corp. and Mubadala Development Co. will invest $500 million over the next four years to explore for natural gas in Oman.
The companies will develop four existing gas fields and explore for new fields in a 1,410-mile area known as Habiba, or Block 62, in northern Oman under a 20-year agreement, they said.
Westwood-based Occidental said it would be the operator and hold a 48% interest, while Mubadala would own 32% and Oman Oil Co. 20%.
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