Sultanate of Oman expands in oil and gas exploration

Oman’s Ministry of Energy and Minerals signed a new Exploration and Production Sharing Agreement (EPSA) with Mohammed Al Barwani, the founder & chairman of MB Group and Zhang Yu, Vice President of China National Oil and Gas Exploration and Development, for Block 15 in the Ad Dhahirah Governorate.

The agreement grants Daleel Petroleum (as operator) the right to explore and develop the 1,389 km² concession area. Under the EPSA, Daleel is committed to conduct geological and geophysical studies, reprocess existing seismic data, implement new 3D seismic data and drill several wells to evaluate the hydrocarbon potential of Block 15. Daleel has continued to develop Concession 5, increasing its daily oil production from 5,000 to over 50,000 bbl/d.