US firms say timetable may slip on Saudi gas deals

01/21/2002
US companies fear that $30 billion in gas deals slated to be finalized this March with Saudi Arabia may be delayed due to diplomatic tensions between the White House and the kingdom.ExxonMobil Corp., the kingdom's largest single foreign investor, won most of the contracts last May. Conoco Inc., Phillips Petroleum Co., Occidental Petroleum Corp., and Marathon Oil Co. also received interests in various ventures the Saudis are planning.ExxonMobil is leading two of the three available "core ventures." The first project, which the Saudis are calling the most attractive investment opportunity, will include drilling in eastern Saudi Arabia at South Ghawar and using the gas to fuel two planne...
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