BP and Eni have signed a heads of agreement with the Ministry of Oil and Gas of the Sultanate of Oman to work jointly toward a significant new exploration opportunity in Oman, BP said in a news release Jan. 14.
Under the agreement, the two companies will work with the government of Oman toward the award of a new exploration and production-sharing agreement (EPSA) for Block 77 in central Oman, the release said. BP and Eni will now enter discussions with the ministry to finalize details of the EPSA.
Block 77, with a total area of nearly 3,100 sq km, is located in central Oman, 30 km east of the BP-operated Block 61 which contains the already-producing Khazzan gas project as well as the Ghazeer project currently under development.
Recommended Reading
Tethys Oil Releases March Production Results
2024-04-17 - Tethys Oil said the official selling price of its Oman Export Blend oil was $78.75/bbl.
E&P Highlights: April 15, 2024
2024-04-15 - Here’s a roundup of the latest E&P headlines, including an ultra-deepwater discovery and new contract awards.
US Drillers Add Oil, Gas Rigs for Second Week in a Row
2024-01-26 - The oil and gas rig count, an early indicator of future output, rose by one to 621 in the week to Jan. 26.
Second Light Oil Discovery in Mopane-1X Well
2024-01-26 - Galp Energia's Avo-2 target in the Mopane-1X well offshore Namibia delivers second significant column of light oil.
E&P Highlights: Jan. 29, 2024
2024-01-29 - Here’s a roundup of the latest E&P headlines, including activity at the Ichthys Field offshore Australia and new contract awards.