TotalEnergies, a French multinational integrated energy and petroleum company, has signed an Exploration and Production Sharing Agreement (EPSA) with Oman’s Ministry of Energy and Minerals (MEM).
The deal concerns an area called onshore Block 11. The operators of the exploration include, TotalEnergies with a 22.5 percent interest in the block, Oman’s oil company (OQ) with 10 percent and Shell with 67.5 percent. The first stage of the EPSA activities will see a seismic acquisition in late 2022, with a first exploration well planned to be drilled in 2023.
“There is a continuous focus in MEM on enhancing the natural gas reserves of the Sultanate of Oman through exploration and appraisal activities undertaken by several companies in the country. This agreement strengthens the strategic relations with partners in the sector such as Shell, TotalEnergies, OQ and others to ensure Oman’s energy security and attract more foreign investment, adding the highest value to the local supply chain.”
“Our recent activities in Oman are a demonstration of TotalEnergies’ strategy of transformation into a multi-energy company. Today’s entry into the Block 11 gives us the opportunity to unlock the additional potential to meet domestic and export gas demand. It strengthens our strategic relationship with the Sultanate of Oman, as illustrated last December by our entry into the neighboring Block 10 gas concession, and the start of construction last July of 17-megawatt-peak solar photovoltaic systems providing power to a desalination plant,” said Mr. Laurent Vivier, Senior Vice President Middle East and North Africa, Exploration and Production, at TotalEnergies.