Oman’s energy ministry signed an additional annex to the exploration and production sharing agreement for Block 5 with operator Daleel Petroleum (CNPC 50%, Petrogas 50%). The deal is “part of the Ministry’s ongoing efforts to maintain annual oil and gas production levels and increase future reserves,” according to a 17 November update on the ministry’s website.
Without providing much detail, the ministry says the addendum “introduces an incentive mechanism aimed at increasing production levels through the development of existing fields and continued exploration using the latest technologies in the oil and gas sector. The agreement also includes a commitment to intensify drilling activities and enhanced production programs.” (CONTINUED - 190 WORDS)