Qatar Petroleum signs agreement for Block 52 offshore of Oman
14 Nov 2017 - 15:28
Doha: Qatar Petroleum entered into an agreement to acquire a 30% participating interest in the contractors interest under the exploration and production sharing agreement (EPSA) for Block 52 offshore of Oman.
The parties under the EPSA are the Oman Government and the contractor, which - on satisfaction of all government approvals - will comprise of Qatar Petroleum with a participating interest of 30%, Eni will have a stake of 55% and the rest 15 % with Oman Oil Company.
The agreement was signed today by President and CEO of Qatar Petroleum Saad Sherida Al Kaabi, in a ceremony held at the Ministry of Oil and Gas in Muscat, Oman, in the presence of Dr Mohammed bin Hamad Al Rumhi , Minister of Oil and Gas of Oman, Isam Zadjali, CEO of Oman Oil Company, and Claudio Descalzi, CEO of Eni.
Block 52, which is largely underexplored, has an area of more than 90,000 km2 and is located in water depths ranging from 10 meters to over 2,000 meters. The contractor parties will soon embark on executing an exploration programme involving the acquisition and processing of 3D seismic, which will be followed by exploration drilling. Eni is the designated Operator of the block, through its subsidiary Eni Oman B.V.