LONDON (Alliance News) - Frontier Resources International PLC Monday said it has provided BGP Inc., the US subsidiary of the China National Petroleum Corporation, with an agreement for it to test the company's 100%-owned Block 38, in Oman.
The oil and gas exploration company with assets in Oman, Zambia and Namibia said BGP has been brought in to its 17,425 metre site to provide high quality data processing services from vintage 2D seismic data at the site.
BGP's data reprocessing will enhance the findings of the original seismic data and will be used to further optimise the location of a planned 3D seismic survey.
"The re-processing of the older 2-D seismic data will be the first exploration services out-sourced by Frontier on the Omani Block. We look forward to receiving and incorporating the results to enable us to plan the next phase of our exploration activity," Chief Executive Jack Keyes said in a statement.
Frontier Resources shares were down 7.0% to 5.00 pence Monday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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