Oman Oil Company’s exploration unit and Shell Exploration signed agreement to collaborate on exploration activity for Oman Block 42.
Under the Heads of Agreement an initial aerial study will be carried out, before potentially undertaking further and more focused activities in the Block, which comprises an area of about 25,600 km2, of hydrocarbon potential in several geological plays, Shell said in a statement.
This cooperation in Block 42 is the first such project between Oman Oil Company Exploration & Production (OOCEP) and Shell in Oman. The two companies are already partners in the Pearls joint venture in Kazakhstan.
Isam bin Saud Al Zadjali, CEO at Oman Oil Company said, “We are pleased to join up with Shell to further assess the exploration potential of Block 42. I see the signing of today’s HOA as creating an important platform with a world-renowned international upstream company like Shell. OOCEP has been very successful in its exploration programs and I trust this success will continue".
Chris Breeze, Shell’s country chairman in Oman said “We are excited by the prospect of Block 42 and are pleased to sign this HOA with OOCEP. We are partners in Kazakhstan and this is first cooperation of its type between Shell and OOCEP in Oman. Shell is proud of its long-term partnership with Oman and I hope this heralds extensive collaboration with OOCEP both in Block 42 and beyond. Shell is committed to helping Oman meet its growing energy demand in economically, environmentally and socially responsible ways.”