Oman signs new exploration and production sharing pact

Oman signs new exploration and production sharing pact

Muscat: An exploration and production sharing agreement (EPSA) was signed by the Ministry of Energy and Minerals (MEM) with leading US oil producer EOG Resources (EOG) to explore for oil in Block 36 onshore Oman, on Wednesday.Block 36 is being acquired by EOG in a transaction with Apex Oman (Block 36), and encompasses 4.6 million acres of the Rub Al Khali Basin located in the southwest area of the Sultanate. In partnership with the MEM, EOG plans to drill a minimum of two wells to explore oil resource targets by mid-2022.This agreement was signed by Dr Mohammed Al Rumhi, the Minister of Energy and Minerals, on behalf of Oman's Government, and William R. Bill Thomas, Chairman and Chief Executive Officer of EOG Resources. "This agreement represents the next step for