(MENAFN - Kuwait News Agency (KUNA)) MUSCAT, July 31 (KUNA) -- Omani Ministry of Oil and Gas signed on Wednesday an accord with the Italian oil company Eni, Oman BP company for gas exploration in a 2,734 sm region in the sultanate, at a value of USD 37 million.
The agreement was co-signed by the oil undersecretary, Salem bin Nasser Al-Ofi, a senior executive of the Italian firm and Yusuf bin Mohmmad Al-Ajaili, BP Oman CEO.
Dr. Salman bin Mohammad Al-Shaidi, investments' director at the ministry of oil and gas, said in a statement that the gas exploration would take place in Al-Dakhelia province.
Eni and BP Oman are committed to invest USD 37 million in the selected exploration zone. In the first phase of the process, a 4,000-5,000-m deep well will be dug, in tandem with examining seismological analyses and geological studies. The three-year second phase features digging another well of the same depth. (end)