BUSINESS REPORTER -
MUSCAT, JAN 31 -
Oman’s Ministry of Oil & Gas yesterday signed an Exploration & Production Sharing Agreement (EPSA) with Oman Oil Company Exploration and Production (OOCEP) for Block 48.
Dr Mohammed bin Hamad al Rumhy, Minister of Oil & Gas, signed the pact on behalf of the government, while OOCEP was represented by Eng Isam al Zadjali, CEO of Oman Oil Company, the energy and strategic investment arm of the government. Covering an area of 2,995 sq kilometres, Block 48 (also called the Malih block) straddles the Dhahirah and Wusta governorates of the Sultanate. It is the latest addition to OOCEP’s expanding portfolio of upstream assets located within the Sultanate and internationally as well.
Speaking to reporters after the signing, Eng Al Zadjali said: “Block 48 represents a (promising) opportunity as it adjoins Block 60, which OOCEP operates, and we believe there is potential there based on the discoveries we found in Block 60. We are planning to drill a few wells and shoot some seismic, and once we do that, we will review our next steps.”
Also present at the signing were Salim al Aufi, Under-Secretary of the Ministry of Oil & Gas; John Malcolm, CEO — OOCEP, and a number of officials of the Ministry and OOCEP.
Oman Observer is now on the WhatsApp channel. Click here
