Energy
Ministry Of Energy & Minerals And Shell Sign Exploration, Production Sharing Agreement For Block 11
The Ministry of Energy and Minerals (on behalf of the government of Oman) has signed an Exploration and Production Sharing Agreement (EPSA) with Shell Integrated Gas Oman BV – a subsidiary of Shell plc, along with its partners, OQ and TotalEnergies to explore, appraise and develop natural gas resources and condensate in Block 11.
This EPSA establishes Shell as the operator of Block 11, holding a 67.5 per cent working interest, with OQ and TotalEnergies holding 10 per cent and 22.5 per cent respectively. The EPSA exploration activities will see a seismic acquisition of 1400 Km2 in late 2022, with few planned exploration wells to follow.
H.E. Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals in Oman, said: “There is a continuous focus in MEM on enhancing the natural gas reserves of the Sultanate of Oman through exploration and appraisal activities undertaken by several companies in the country.
“This agreement strengthens the strategic relations with partners in the sector such as Shell, TotalEnergies, OQ and others to ensure Oman’s energy security and attract more foreign investment, adding the highest value to the local supply chain.”
Walid Hadi, Shell’s Senior Vice President, and Country Chair in Oman, said: “Block 11 is located on the western side of the Sultanate of Oman, in and around the Umm as Samim Sabkha. Shell’s entry into this block signifies a further commitment to Oman while enhancing and diversifying its gas supply. For Shell, this partnership will strengthen our integrated gas business and generate value for Oman and our shareholders.”
-
OER Magazines1 month ago
OER, September 2024
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, September 24
-
Uncategorized4 weeks ago
Oman Oil Marketing Company partners with Ihsaan Association to support its activities
-
Commodities1 month ago
Gold Rangebound as Investors Brace for Key US Economic Data
-
Banking & Finance1 month ago
Apple Pay Officially Launched in Oman
-
Oil & Gas4 weeks ago
OQEP Appoints United Securities as Liquidity Provider Ahead of Landmark MSX Listing
-
Investment1 month ago
With Over RO600M in Foreign Investments, Future Fund Oman Unveils the First Batch of Investment Projects with an Overall Value of RO830M+
-
Lifestyle1 month ago
Royal Opera House Muscat Welcomes First Shows of its 2024/25 Season