Maha Energy has been granted by the Ministry of Energy and Minerals of the Sultanate of Oman ('MEM') an extension of the Initial Phase of the Exploration and Production Sharing Agreement ('EPSA') for Block 70 -- located onshore Oman. After the extension, the Initial Phase of the EPSA runs until 31st of December 2023.
Maha commenced in March 2023 a production test on Block 70. Driven by Maha’s commitment to effectively conclude the production testing, the Company requested to MEM in July 2023 for an extension of the Initial Phase of the EPSA. During the extended Initial Phase, Maha intends to implement activities and tests necessary to support any decision regarding a second phase of the EPSA, a possible declaration of commerciality of Block 70 or relinquishment.
Source: Maha Energy
