French Total Agrees New Exploration Deal in Oman
Total announced April 8 that it has agreed terms with Oman for a new exploration licence.
The French company said it has signed a Heads of Agreement (HoA) with the Ministry of Oil and Gas of the Sultanate of Oman (MOG) on an exploration licence on Block 12 with significant prospective gas resources.
Both parties will finalize in the coming months a definitive agreement that will grant to Total 100% working interest and operatorship of the exploration block 12, which is located in Central Oman. Spread over 10,000 km2, Block 12 is located onshore, in the northern part of Block 6 and to the south of the Greater Barik area. Total’s exploration program on the block will comprise seismic acquisition and drilling commitments, with the drilling of a first well due in 2020.
The agreement comes after Total and Oman reached a new milestone to implement an integrated gas project: The development of the gas resources of the Greater Barik area (Blocks 10 and 11). A liquefaction plant will also be built to offer bunkering services supplying LNG to marine vessels.
“Having been present in Oman for more than 80 years mostly in the oil sector, Total is pleased to have the opportunity to bring its expertise in the natural gas value chain to the Sultanate of Oman,” said Total CEO Patrick Pouyanne. “After the agreement reached on the integrated gas project of the Greater Barik area, the entry into exploration Block 12 represents a new exploration opportunity to unlock additional gas potential and to contribute to income growth and job creation in the country.”