AMOCO WITHDRAWS FROM EXPLORATION ON POLISH BLOCKS

Amoco Poland Ltd. has pulled out of its agreement with the Polish government that made it the first foreign company to win exploration rights in the country. The deal, signed Oct. 2, 1992, involved exploration of a block south of Warsaw and one southeast of Lublin covering a combined 2.7 million acres. Amoco blamed the move on lack of progress in talks with the government over tax issues and low oil and gas prices.

More in Home