Jomar Mendoza –
MUSCAT, JAN 14 –
The Government of Oman, represented by the Ministry of Oil and Gas, yesterday entered into an Exploration and Production Sharing Agreement (EPSA) for Block 47 with Oman Oil Company Exploration and Production (OOCEP) and Italian oil and gas company Eni SpA (Eni).
Block 47 was awarded by the Government of Oman to OOCEP and Eni following their joint bid as part of the 2017 Oman Licensing Round. Pursuant to the EPSA, Eni is the operator of the Block with a 90 per cent participating ownership and the remaining ten per cent belongs to OOCEP.
Block 47 is located in Al Dakhiliyah Governorate and covers an approximate area of 8, 524 square kilometres.
Also, the Ministry of Oil and Gas with BP signed a Head of Agreement (HoA) with Eni that sets up the principle for the acquisition of the exploration and production rights of Block 77 onshore Oman.
Under the HoA, the two companies will work with the Government of Oman towards the award of a new exploration and production sharing agreement (EPSA) for Block 77 in central Oman. BP and Eni will now enter discussions with the Ministry to finalise details of the EPSA.
Bernard Looney, BP Chief Executive – Upstream said: “This would represent a further deepening of BP’s important position in Oman, building on our successful delivery of the major Khazzan project in 2017 and its second phase of development that is currently under construction. We look forward to continuing to explore and efficiently develop the country’s resources, working in close partnership with Eni and Oman to underpin our commitment to delivering long-term gas production for Oman.”
Block 77, with a total area of almost 3,100 sqkm, is located in central Oman, 30 km east of the BP-operated Block 61 which contains the already-producing Khazzan gas project as well as the Ghazeer project, currently under development.
Eni stated the signature of Block 47 EPSA and Block 77 HoA, represents a further step the company’s strategy to reinforce its presence in the Sultanate of Oman and strengthen the collaboration with OOCEP, which is Eni’s partner also in Block 52.
Eni operates in Oman through its subsidiary Eni Oman. In the Middle East, Eni is also present in the United Arab Emirates, Lebanon and Iraq.
This is the fourth such announcement from Eni this week — the company also signed agreements in Bahrain and in Abu Dhabi and Sharjah in United Arab Emirates.
Jomar Mendoza –