10 October 2019
Oman Shell announced on Thursday that it signed Exploration & Production Sharing Agreement (EPSA) with Ministry of Oil and Gas (MoG) for Block 55 in the southeast of the Sultanate.
Oman Shell will have a 100 percent working interest and operatorship of Block 55, the company said in a press statement.
It said the scope of the agreement includes a work programme of regional studies and seismic acquisition as well as other potential exploration activities.
Block 55 complements the company's exploration portfolio in the Sultanate alongside Block 42 and a portion of Block 6, the statement added.
Shell is active in Oman across the oil and gas industry and is involved in joint venture and independent activities ranging from research and development, exploration and production to trading and retail, according to the press statement.
(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)
Our Standards: The Thomson Reuters Trust Principles
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
For more data, analytics, tools and news on projects in the Middle East visit the Thomson Reuters Projects portal
© Thomson Reuters Projects News 2019