Muscat, Oman Oil Company Explorations and Production (OOCEP) and Eni Oman BV (ENI Oman) entered into an Exploration and Production Sharing Agreement (EPSA) for Block 47 with the Sultanate’s Government, represented by the Ministry of Oil and Gas.
Block 47 covers an approximate area of 8.524Km2, and it is an onshore block Located in the Governorate of A’Dakhiliyah.
The Block was awarded to OOCEP and Eni following their joint bid as part of the 2017 Oman Licensing Round. Eni Oman will be the Operator of Block 47 and will hold a 90% participating interest and OOCEP will hold the remaining 10% participating interest. Exploration operations are expected to commence in Block 47 in 2019.
Block 47 EP5A represents a further step in Eni’s strategy to reinforce its presence in the Sultanate and strengthen the collaboration with OOCEP, which is Eni’s partner also in Block 52, which is located at the southern coast of the Sultanate.
Oman Oil Company Exploration and Production LLC (OOCEP) was established as an Omani upstream oil and gas company and is a subsidiary of Oman Oil Company 5AOC (OOC).
OOCEP’s activities are focused towards upstream investments in the Sultanate and abroad. Given these segments’ potential for growth, OOCEP continues to search for opportunities where its solutions can unlock value.
Source: Oman News Agency