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French major Total this week signed a Heads of Agreement (HoA) with Oman’s Ministry of Oil and Gas (MOG) to explore “significant prospective gas reserves” in Block 12 – a newly-created 10,000 km² exploration license that overlaps a large chunk of Petroleum Development Oman’s (PDO) massive Block 6.
Total says its exploration program “will comprise seismic acquisition and drilling commitments, with a first well in 2020.” Total will hold 100% of Block 12 during the exploration phase. Whilst not stated in Total’s press release, Oman (most probably Oman Oil Company) will likely receive a non-operating stake should the gas be developed.
A ministry source confirms to MEES that Block 12 will be developed on a ‘mixed status’ model where PDO retains rights to crude and associated gas output within the block as part of its larger Block 6 concession. Total will target non-associated gas and condensate plays. (CONTINUED - 665 WORDS)
DATA INSIDE THIS ARTICLE
|chart||Oman Gas Output* (Bcm) Soars In 2018 With Khazzan Ramp Up|