PTTEP and Total sign EPSA for Block 12 onshore Oman

PTT Exploration and Production (PTTEP) has announced that on 19 February 2020, PTTEP MENA, a wholly-owned subsidiary of PTTEP, and Total E&P Oman Block 12, a wholly-owned subsidiary of Total, signed an Exploration and Production Sharing Agreement (EPSA) with Oman’s Ministry of Oil and Gas (MOG) for exploration and production rights of Block 12, located onshore central part of the Sultanate of Oman, with the participation interest for PTTEP MENA at 20% and Total E&P Oman Block 12 (the Operator) at 80%.

This investment in the Oman exploration block is another important milestone for PTTEP to expand its international investment portfolio to the Middle East, the petroleum prolific region; and is in line with PTTEP’s strategy to broaden strategic alliance partnership with well-experienced operators.

The signing of the EPSA follows an earlier announcement, in April 2019, that Total and the Ministry of Oil and Gas of the Sultanate of Oman (MOG) had signed a Heads of Agreement (HoA) for the award to Total of an exploration licence on Block 12 with significant prospective gas resources.

The HoA granted Total 100% working interest and operatorship of the exploration Block 12, located in Central Oman.

Source: Energy-pedia