Agreement signed for exploration of concession block in Oman

Muscat: The Ministry of Energy and Minerals has signed an agreement with Swedish Maha Energy for having the right to explore and develop concession Block 70.

A statement issued online by the Ministry of Energy and Minerals said: "His Excellency Mohammed Hamad Al Rumhy, the Minister of Energy and Minerals has signed today a new Exploration and Production Sharing Agreement (EPSA) with Swedish Maha Energy (Oman) Limited for having the right to explore and develop the concession Block 70."

"The commitment of the company under the agreement is obtaining geological and geophysical studies, reprocessing 3D seismic and drill appraisals and pilot wells to evaluate and produce the heavy oil in Mafraq field in the Block," the statement added.