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Today, the Ministry of Oil and Gas (MoG) and Shell Exploration and Production Oman B.V. (Oman Shell) signed an Exploration & Production Sharing Agreement (EPSA) for Block 55 in the southeast of the Sultanate.
Oman Shell will now have a 100% working interest and operatorship of Block 55, which symbolises yet another step to deepen Shell’s commitment to support the growth of the Sultanate’s economy and generate in-country value.
The MoG’s undersecretary H.E. Salim bin Nasser Al Aufi and Oman Shell’s Country Chairman Walid Hadi signed the agreement, which includes a work programme of regional studies and seismic acquisition as well as other potential exploration activities.
H.E. Salim bin Nasser Al Aufi said, “This agreement will further maximise the potential of Oman’s oil and gas industry, in line with the Sultanate’s strategy to create opportunities of growth for both upstream and downstream projects.”
“This agreement further expands Shell’s operated exploration footprint in the Sultanate as we employ the exploration technology, which we have evolved over the last century,” said Walid Hadi, Oman Shell Country Chairman. “We look forward to partnering with the MoG on yet another opportunity to unlock new possibilities for the future of the country’s oil exploration.”
This block complements the company’s exploration portfolio in the Sultanate alongside Block 42 and a portion of Block 6. Oman Shell has business interests that include joint ventures, independent activities in research and development, exploration and production, as well as trading and marketing.
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