Oman Signs Concession Agreement to Expand Oil, Gas Exploration

Represented by the Ministry of Energy and Minerals, the Sultanate of Oman today signed an agreement with Daleel Petroleum Company (the operator) to explore and develop Concession Area No. 15 in Al Dhahirah Governorate. The concession agreement constitutes a strategic step towards enhancing oil and gas reserves and expanding production rates through the resources of Area No. 15, a stretch of ??1,389 square kilometers. Daleel Petroleum Company will undertake a set of geological and geophysical studies, reprocess existing seismic data, conduct a 3D seismic survey and drill several wells to assess the hydrocarbon potential in the designated area. Source: Oman News Agency