omani minister of oil & gas and chairman of the board of directors of the omani oil company mohammed bin hamad al-ramhi signed here today along with kazakhstani minister of energy & natural resources viladimir shkolnik an agreement. under the agreement the omani oil company will undertake oil and gas drilling operations in the caspian sea in kazakhstan. the omani press agency quoted al-ramhi as saying that the treaty comes within the framework of the memorandum of understanding signed by the two countries in 1992. he added that the memorandum stipulates cooperation and exchange of expertise in the field of oil and gas drilling. the concession area amounts to 900 square kilometer. the drilling operations wich will take about two years effective from 2007 will cost about $33 million. --spa 15:30 local time 12:30 gmt nnnn
