MUSCAT: Energy major TotalEnergies says its partnership in an Exploration and Production Sharing Agreement (EPSA) signed with the Omani government on Thursday, builds on its “strategic relationship” with the Sultanate of Oman.
TotalEnergies, along with its partners, signed the EPSA pact with the Ministry of Energy and Minerals (MEM) in the onshore Block 11. The first stage of the EPSA activities will see seismic acquisition in late 2022, with a first exploration well planned to be drilled in 2023.
TotalEnergies will hold a 22.5 per cent interest in the block, OQ 10 per cent and Shell with 67.5 per cent will be the operator. Block 11 contains undeveloped discoveries and exploration potential.
“Our recent activities in Oman are a demonstration of TotalEnergies’ strategy of transformation into a multi-energy company. Today’s entry into the Block 11 gives us the opportunity to unlock additional potential to meet domestic and export gas demand. It strengthens our strategic relationship with the Sultanate of Oman, as illustrated last December by our entry into the neighbouring Block 10 gas concession, and the start of construction last July of 17-megawatt-peak solar photovoltaic systems providing power to a desalination plant”, said Laurent Vivier, Senior Vice President Middle East and North Africa, Exploration and Production, at TotalEnergies.
Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, stated: “There is a continuous focus in MEM on enhancing the natural gas reserves of the Sultanate of Oman through exploration and appraisal activities undertaken by several companies in the country. This agreement strengthens the strategic relations with partners in the sector such as Shell, TotalEnergies, OQ and others to ensure Oman’s energy security and attract more foreign investment, adding the highest value to the local supply chain.”
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