28 Feb, 2019
Muscat (WAF): Dr. Mohammed al-Rumhy the Omani Minister of Oil & Gas signed today an Exploration and Production Sharing Agreement (EPSA) with Occidental Oman (OXY) for the Block 72.
The onshore block with area of 3530 square kilometers is located at a close proximity to block 53 where the American energy company is operating Mukhaizna oil field. The newly-allocated block used to be part of the Block 6 operated by Petroleum Development Oman (PDO).
Dr. Salman al-Shidi, Director General of Management of Petroleum Investment at MOG told media that OXY is looking to invest $59mn over the span of 7 years.
“In the first phase, the company will dig 3 exploration wells. And a similar number of wells will be dug in the second phase”, al-Shidi explained.
OXY has operation is several blocks in Oman including Block 62, Block 9, Block 27, Block 53, Block 65, and Block 51. Which makes Block 72 the 7th concession area for OXY in Oman.