TEHRAN, Iran, June 6. Iran and Oman are determined to develop the Hengam shared oilfield, said Oman Minister of Energy and Minerals is Mohammed bin Hamad Al Rumhi, Trend reports citing IRNA.
"The two countries have agreed to develop the field by increasing extraction and secure mutual interest and reduce damages," he said.
Al Rumhi noted recent agreements between Iran and Oman, including developing the Hengam oilfield and gas pipeline projects.
He went on to say that both sides agreed to form a technical team to review the gas pipeline project that is expected to pump 28 million cubic meters of gas from Iran to Oman for 15 years.
In 2005, both countries signed a memorandum of understanding to jointly develop the Hengam oil field but the agreement did not materialize and Iran decided to develop the field independently in 2012.