Maha Energy (Oman) Ltd. entered into a joint operating agreement with Oman’s Mafraq Energy LLC on Jan. 28 for Block 70 in Oman, Maha announced in a Jan. 30 press release. 

Under the terms of the agreement, Mafraq Energy will reimburse Maha for its prorated share of past costs, as well as its share of future Block 70 expenditures. 

Maha is the operator of Block 70 with 65% shareholding interest. Maha’s 35% working interest to Mafraq Energy is subject to all conditions laid out in the relevant farmout agreement signed by both parties in August 2022. 

“We are proud to have finalized yet another major milestone in what is to be a great partnership,” said Paulo Mendonça, Maha’s CEO. “Maha is moving forward to commence testing [and] aiming for fast production of Block 70, and having Mafraq Energy as [a] local partner with [a] competent and experienced Omani team [brings] knowledge of the local market to operations.”

Maha Energy is a wholly-owned subsidiary of Sweden’s Maha Energy AB, an international upstream oil and gas company with operations in Brazil and the U.S.