PLANS ADVANCE FOR OMANI LNG PROJECT

Omani liquefied natural gas developers have signed a contract in Muscat establishing Oman LNG LLC Co. to proceed with Oman's LNG export project. The company will operate a 5 million ton/year liquefaction plant, transportation, and sales of LNG. First deliveries are slated for mid-1999, with gas provided from fields recently discovered in Central Oman by Petroleum Development Oman. Ownership interests are the Oman government 51%, Royal Dutch/Shell 34%, Total 6%, Mitsubishi and Mitsui 3%

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