Oman awards two exploration blocks to PetroTel
27 Mar 2013
Oman's Ministry of Oil and Gas signed a new exploration and production sharing agreement (EPSA) with PetroTel Oman Onshore on Tuesday. The agreement was signed in Muscat by HE Dr Mohammed Bin Hamad Al Rumhy, Minister of Oil and Gas, and Dr Anil Kumar Chopra, Chairman of the company.
Under the agreement the company will explore for oil and natural gas in Blocks 39 & 67 which occupy 13,379 sq km in Dhofar Governorate. The commitments of the company under this agreement are to reprocess old 2D seismic, acquire new 2D seismic and perform geological and geophysical studies. Based on the result of the seismic programme and the studies, the company will drill wells during exploration periods.
The government does not bear any financial commitments during exploration periods. The Ministry of Oil and Gas wishes that the company’s efforts will be crowned with success in discovering hydrocarbons, which will increase reserves and production rates in the Sultanate.
Source: Oman Tribune