Circle Oil signs ‘a very significant' deal in Oman

Circle Oil, the Limerick oil exploration company which floated on the AIM market in London last October, has described a deal it clinched last week in Oman as “very significant'‘.

19th March, 2005

The oil firm has acquired 100 per cent of an exploration block of 15,000 square kilometres located adjacent to an existing area in Oman which produces 700,000 barrels of oil a day.

The adjacentblock is owned by the Oman government and major oil companies, including Shell andTotal.

“We have got ourselves a major deal here,” said John McKeon, business development director of Circle Oil. “We have just pulled off a major deal in a politically stable part of...

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