The Ministry of Energy and Minerals of the Sultanate of Oman announced the awarding of onshore exploration block 70 to Maha Energy AB (Maha), according to a press release.
The exploration block, located in the middle of the prolific and oil-producing Ghaba Salt Basin, includes the shallow undeveloped Mafraq heavy oil field.
Jonas Lindvall, CEO of Maha, commented, “To be allowed an opportunity to explore and develop the Mafraq oil field is an exceptional opportunity to add value to Maha and the people of Oman. The Mafraq oil field contains significant amounts of oil and previous and extensive pump tests have proven the productivity of the field.”
As a consequence of the deal, Maha will be the operator of the Block and holds a 100% working interest. Maha’s entry into Oman represents a milestone for the company’s diversification strategy.
The agreement is scheduled to be signed on October 1 and is further subject to a Royal Decree.
The Block covers an area of 639 kilometers squared and is covered by both 2D and 3D seismic data that has been acquired by previous operators. Eight wells have been drilled within the block boundary, five of which are on the Mafraq oil field.