The Ministry of Energy and Minerals in Oman has signed a concession agreement with CC Energy Development Company for the exploration of oil and gas in concession areas 38 and 74 in the Dhofar Governorate.
The agreement, signed by Salem bin Nasser Al-Awfi, Minister of Energy and Minerals, and Marwan Shafiq Salloum, Chairman of CC Energy Development Company, aims to conduct geological and geophysical studies and seismic surveys in order to identify potential oil and gas reserves in the two concession areas.
Concession Area No. 38, covering an area of approximately 17,425 square kilometers, is located in the southwestern part of the Dhofar Governorate. While Concession Area No. 74, with an area of 3,064 square kilometers, is situated in the southeastern part of the Dhofar Governorate.
According to Al-Awfi, this agreement reflects the ministry’s commitment to expand exploration and prospecting activities in Oman. It also reflects the confidence of local and international investors in the country’s potential in the oil and gas sector. Furthermore, this agreement is expected to contribute to the growth of the sector and enhance its productive capacity.
On his part, Salloum expressed his optimism about the partnership between the company and the Ministry of Energy and Minerals, which has been ongoing for more than 15 years. He hopes that the signing of this agreement for concession areas 38 and 74 will further strengthen the company’s investments in Oman in the coming years.
Meanwhile, Dr. Salah bin Hafeez Al-Dhahab, Director General of Investment at the Ministry of Energy and Minerals, explained that the signing of agreements for concession areas 38 and 74 is a new addition to the operational areas and is one of the goals of the Ministry of Energy and Minerals in increasing the areas of operating areas in the oil and gas sector.
He also mentioned that the two concession areas will be under the exploration and prospecting operations of the signatory company. It is expected that these areas will undergo extensive geophysical surveys, and if successful, drilling operations will commence.
