Total E&P and its joint venture (JV) partner PTT Exploration and Production (PTTEP) have signed and exploration and production sharing agreement (EPSA) for the onshore Block 12 with the Oman Government, which will see the two companies undertake an initial three-year exploration program.
Beginning this year and running through to 2022, PTTEP and Total will engage in geological and geophysical studies, 3D seismic surveys and undertake exploration wells in the block’s 10,000 km2 region.
The area is thought to have a high gas potential and is the focus of the Oman Government’s for exploration, development and production.
Total will operate Block 12 with an 80 per cent interest, while PTTEP holds the remaining 20 per cent.
“The signing of this EPSA for Block 12 strategically strengthens PTTEP exploration investment and presence in Oman which is a high petroleum potential area in the Middle East with a favourable investment climate,” said PTTEP President and CEO Phongsthorn Thavisin.
“The deal will also widen opportunity for PTTEP to further expand investment in the region for long term growth and to partner with a prudent operator that has extensive experience in Oman.”
PTTEP acquired Partex Holding B.V in 2019 in a deal that included Oman’s largest onshore producing oil and gas project, as well as the only gas liquification facility in the country.
For more information visit the PTTEP website.
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