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Gas Sales Agreement for Block 60

Source: www.gulfoilandgas.com 10/11/2011, Location: Middle East

Gas Sales Agreement for Block 60 was signed at the Ministry of Oil and Gas between the Government of the Sultanate of Oman and Oman Oil Company Exploration & Production LLC.

Block 60 is an onshore block, which covers 1485 square kilometers (sq km) and contains the Abu Tubul gas and condensate field, which was discovered in 1998.

His Excellency Dr. Mohammed bin Hamad Al Rumhy, Minister of Oil and Gas signed the agreement on behalf of the Government of the Sultanate of Oman. Salim bin Zahir Al Sibani the Chief Executive officer of Oman Oil Company Exploration & Production signed on behalf of the company. Representatives from the Ministry and the Company were present at the signing ceremony.

The commitment of the company under this agreement is to provide up to 90 MSCFD of gas production starting in 2013 by developing the proved gas volumes found in Abu Tubul Field in Block-60 as set in the agreed Field Development Plan (FDP) and stipulated by the Exploration and Production Sharing Agreement (EPSA) ratified by Royal Decree No. 56/2011 issued on 12th April 2011.

The Ministry of Oil and Gas wishes the company's efforts to be crowned with success in increasing gas reserves and production rates in the country.

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