Pacts for 4 oil and gas blocks
The Ministry of Oil and Gas on Tuesday signed Exploration and Production Sharing Agreements (EPSA) covering four oil and gas blocks — 30, 31, 49 and 52 — tendered out as part of the 2016 Oman Licensing Round.
Dr Mohammed bin Hamed al Rumhy, Minister of Oil and Gas, signed the agreements on behalf of the Government of the Sultanate of Oman. Also present at the signing were high level officials of the ministry, as well as top executives of local and international energy that secured the licences to explore for hydrocarbons in the four concessions.
The first EPSA pact was signed with Tethys Oil Montasar Ltd, the local subsidiary of Swedish oil firm Tethys Oil, which has been awarded Block 49, a 15,439 sq km concession in the southwest on the Sultanate’s border with Saudi Arabia.