Oman inks exploration, production deal with Eni, BP for Block 77
The deal covers exploration rights and the development of an onshore area spanning 2.7km2 in Oman
Oman’s Ministry of Oil and Gas has signed an exploration and production sharing agreement (Epsa) with Rome-headquartered Eni and London-based oil giant British Petroleum (BP) for Block 77.
The agreement includes exploration rights and the development of an onshore area of 2.7km2 in the sultanate.
Eni will operate the block and own 50% stake in the scheme, with the remaining stake to be held by BP.
Block 77 is located 30km east of the BP-operated Block 61, which comprises the operational Khazzan gas project and Ghazeer, which is currently under development and is due to come on-stream in 2021.
Commenting on the agreement in a statement, BP group chief executive, Bob Dudley, said: “Today’s announcement reflects the continued exploration potential we see in Oman and reinforces BP’s commitment to the sultanate.
"We look forward to working with the government and Eni to continue to explore and develop the country’s resources and secure its long-term gas production.”