Oman signs new oil and gas agreement
The Sultanate of Oman on Saturday signed an agreement with an American firm for exploring new oil and gas facilities in the 3,873 sq km Al Ghubar area (Qarn Alam, Block No. 64 p between Al Wusta and Al Dakhiliyah region).
The Gas Exploration Concession Agreement was signed at the Oil and Gas Ministry on behalf of the Sultanate by Dr Mohammed bin Hamad Al Romhi, the oil and gas minister, and on behalf of US-based Harvest Oil Company by James A. Admiston, CEO of the company, and on behalf of Oman Oil by Mulhim Al Jurf, deputy CEO.
According to the agreement, Harvest Oil and Oman Oil will jointly undertake exploration in the region that would include re-processing of the seismic surveys, digging of a number of exploration wells and evaluation and development of wells in case commercial production is found to be viable, said Nasser bin Khamis Al Jashmi, undersecretary in the Oil and Gas Ministry, in a statement.