Shell Integrated Gas Oman, a subsidiary of Royal Dutch Shell, and its partners have signed a concession agreement with the Omani Ministry of Energy and Minerals, OQ, and Marsa Liquefied Natural Gas to develop natural gas reserves in Block 10, Al Sharq Al Awsat reported.

Director-General of Exploration and Production at Omani’s Energy Ministry Saleh Al Anbouri elaborated that this agreement will attract $2 billion in investments over the 18-year tenure of the contract. He added that the contract includes drilling of wells and connecting them to the production line to increase the output to 500 million cubic meters per day (mmcm/d) of natural gas within two years.

“This project will increase the capabilities of the energy industry in the Sultanate and bridge the gap between gas supply and its consumption needs in the future, in line with the Sultanate’s strategy to provide growth opportunities in all energy fields according to the priorities of Oman Vision 2040,” Anbouri said.