Oman’s government has inked an exploration and production sharing agreement (EPSA) with Occidental of Oman, a wholly owned subsidiary of Occidental Petroleum Corporation, according to Times of Oman.
The agreement was signed by Mohammed Al Rumhy, Oman’s Minister of Oil and Gas and Vicki Hollub, Occidental Petroleum’s President and CEO.
“They leverage our near field exploration success over the last 30 years in Oman and create operational synergies with our existing infrastructure in Northern Oman and at the Mukhaizna Field,” Hollub said.
The EPSA agreement aims to explore, appraise, develop and produce oil and gas in Block 72 and in Occidental’s operated Block 53, Mukhaizna Field.
Occidental average gross production reached 246,100 barrels of oil equivalent per day (boe/d) during Q4 2018. Additionally, the company plans to exploit more oil and gas exploration opportunities in Block 72.