Tuesday, May 25, 2010
TOKYO (Dow Jones)--Cosmo Oil Co. Ltd. (5007.TO) said Tuesday it has reached an agreement with the Supreme Petroleum Council of Abu Dhabi on the basic terms and conditions for talks on renewing drilling rights for three oil fields.
The final agreement will extend Cosmo's contract, which expires in December 2012, for 30 years, Cosmo said in a statement. The talks also cover the rights to a new concession area, it said.
-By Kazuhiro Shimamura, Dow Jones Newswires; 813-6269-2790; kazuhiro.shimamura@dowjones.com
(END) Dow Jones Newswires
25-05-10 0820GMT
