The Government of the Sultanate of Oman and Hunt Oman Musandam
Exploration Company today signed an Exploration and Production Sharing Agreement
for the exclusive right to carry out petroleum exploration and production operations in the
Block 40 Area of offshore Oman.
The Agreement will be effective upon issuance of the Royal Decree by His
Majesty The Sultan of Oman ratifying the agreement. A spokesman for Hunt Oil
Company says operations are expected to commence soon after the contract becomes
effective.
Block 40 covers approximately 6,100 square kilometers of the Offshore part of
the Musandam peninsula, the northern tip of Oman, and covers the Straits of Hormuz
where they pass through Omani waters.
Hunt Oman Musandam Exploration Company is an affiliate of Hunt Oil
Company, a privately held independent oil and gas firm based in Dallas, Texas, led by
Ray L. Hunt.