Total and the Ministry of Oil and Gas of the Sultanate of Oman signed a Heads of Agreement (HoA) for the award to Total of an exploration license for Block 12 with 'significant prospective gas resources', Total announced Monday.
'Under the terms of this HoA, both parties will finalize in the coming months, on an exclusive basis, a definitive agreement that will grant to Total 100% working interest and operatorship of the exploration block 12, located in Central Oman,' the company’s statement read.
According to the press release, spread over 10,000 square kilometers, Block 12 is located onshore, in the northern part of Block 6 and to the south of the Greater Barik area including Mabrouk North East and Mabrouk West fields.
Total's exploration program on the block will comprise seismic acquisition and drilling commitments, with the drilling of a first well in 2020.
According to the statement, this new agreement was signed after Total and the Ministry of Oil and Gas and Oman Oil Company (OOC) reached a new milestone to implement their integrated gas project, which entails developing the gas resources of the Greater Barik area (Blocks 10 and 11), as well as building and operating a liquefaction plant to offer a bunkering service and supply Liquefied Natural Gas as a fuel to marine vessels.
'Having been present in Oman for more than 80 years mostly in the oil sector, Total is pleased to have the opportunity to bring its expertise in the natural gas value chain to the Sultanate of Oman,' said Patrick Pouyanne, chairman and CEO of Total.
'After the agreement reached on the integrated gas project of the Greater Barik area, the entry into exploration Block 12 represents a new exploration opportunity to unlock additional gas potential and to contribute to income growth and job creation in the country,' he added.
In Oman, Total's SEC production was 38,000 barrels of oil equivalent per day in 2018. Total holds a 4% interest in the onshore Block 6 operated by Petroleum Development Oman, as well as a 5.54% share in Oman LNG and 2.04% in Qalhat LNG.
By Hale Turkes
Anadolu Agency
energy@aa.com.tr