(MENAFN- Muscat Daily) Muscat- The Ministry of Oil and Gas on Thursday signed a new exploration and production sharing agreement with Occidental Petroleum Corporation for the onshore oil and gas Block 72.
As per the agreement, Occidental Oman will have rights to explore and develop oil and gas in Block 72, which occupies an area of 3,530sqkm.
The agreement was signed by H E Dr Mohammed bin Hamad al Rumhi, Minister of Oil and Gas on behalf of the government and Vicki Hollub, president and CEO of Occidental Petroleum Corporation.
The commitments of Occidental include obtaining geological and geophysical studies, 2D and 3D seismic acquisition and drill wells during the exploration periods.
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