Oman signs four agreements to develop oil blocks

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Oman signs four agreements to develop oil blocks

Nov 15, 2017 9:41 AM

Oman s Ministry of Oil and Gas has signed a total of four exploration and production sharing agreements (EPSA) with energy companies to develop oil blocks a report said. These agreements were for developing...

Oman’s Ministry of Oil and Gas has signed a total of four exploration and production sharing agreements (EPSA) with energy companies to develop oil blocks, a report said.

These agreements were for developing onshore blocks 49, 31 and 30, as well as offshore block 52, reported Times of Oman.

The first agreement was signed with Tethys Oil Oman Limited for block 49, spread over a large area of 15,439 sq km, while the second pact was with ARA Petroleum to explore oil in block 31, which is spread over an area of 8,528 sq km.

The third agreement for block 30 was signed with a joint venture of Occidental Oman and Oman Oil Company Exploration and Production, spread over an area of 1,185 sq km.

The fourth pact was signed between the ministry and a joint venture of Eni Spa and Oman Oil Company Exploration and Production (OOCEP) to conduct exploration in block 52, an offshore block occupying an area of 90,760 square kilometres, the report said.

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