Oman signs exploration/production deal for oil block

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Oman signs exploration/production deal for oil block

Oct 6, 2020 10:12 AM

Oman s Ministry of Energy and Minerals has signed a new Exploration and Production Sharing Agreement (EPSA) for the Block 70 concession which occupies an overall area of 639 sq km. The agreement was signed...

Oman's Ministry of Energy and Minerals has signed a new Exploration and Production Sharing Agreement (EPSA) for the Block 70 concession, which occupies an overall area of 639 sq km.

The agreement was signed on behalf of the sultanate's government by Dr Moahmmed bin Hamed Al-Rumhy, Minister of Energy and Minerals, while Talal bin Saif Al-Subhi signed it on behalf of the Swedish Maha Energy (Oman) Company Limited.

The commitment of the company under the agreement is to obtain geological and geophysical studies, reprocess 3D seismic and drill appraisal and pilot wells to evaluate and produce the heavy oil in Mafraq field in the Block.

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