GAS/CONDENSATE PRODUCTION SCHEDULED BY IPL OFF OMAN

International Petroleum Ltd. (IPL), Dubai, will place Bukha gas/condensate field off Oman on production following an agreement that allows gas exports from Oman to Ras al Khaimah, United Arab Emirates. The field, in the Persian Gulf at the entrance to the Strait of Hormuz, 9.3 miles off the west coast of the Musandam Peninsula, holds 200 bcf of reserves in two reservoirs, Thamama and Mauddud. In its initial development phase Bukha will produce 40 MMcfd of gas, 5,000 b/d of condensate, and 800