Oman’s Ministry of Energy and Minerals signed an additional addendum to the Exploration and Production Sharing Agreement (EPSA) for Oil Concession Block (5), located in the A'Dhahirah Governorate and operated by Daleel Petroleum.
Signing the agreement
on behalf of the Government of Oman was Salim Al Aufi, Minister of Energy and
Minerals.
Also participating in
the signing were Mohammed Al Barwani, Chairman of Mazoon Petrogas, and Wang
Guihai, Vice President of Mazoon Petrogas Limited.
This signing comes
within the framework of the Ministry of Energy and Minerals' efforts to
maintain annual oil and gas production levels and increase the volume of future
reserves.
This aligns with its
mission to regulate and develop the energy and minerals sectors, ensuring the
optimal utilisation of national wealth according to the highest standards of
occupational health, safety, and environmental protection.
The new addendum
introduces a stimulating financial mechanism that contributes to raising
production rates through the development of producing fields and continuing
exploration work using the latest technologies in the oil and gas sector.
The agreement also
includes a commitment to intensify drilling activities and enhanced oil
recovery (EOR) programs, which is consistent with the Ministry of Energy and
Minerals' vision for developing and utilising energy resources with high
efficiency and innovation to support the national economy.
Daleel Petroleum is
considered one of the leading companies in managing oil fields with high
efficiency by reducing operating costs and increasing production.
The company has also
achieved an Omanisation rate of 98 percent, confirming its commitment to
supporting local content through the development of national capabilities and
the empowerment of small and medium enterprises (SMEs).
Over the past five years, the company has spent more than RO 4 million on projects serving the local community.
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