TOTAL and PTTEP Sign EPSA for Block 12 in Oman
French super-major TOTAL SA and Thai state-owned PTT Exploration & Production Public Company Ltd. (PTTEP) have signed an Exploration & Production Sharing Agreement (EPSA) with Oman’s Ministry of Oil & Gas pursuant to which the companies have been awarded exploration and production rights for Block 12 in Central Oman.
Under the terms of the EPSA, TOTAL E&P Oman Block 12 BV will hold an 80% operated interest in the block during the exploration phase, with PTTEP MENA Ltd. holding the remaining 20% interest. Oman Oil Company SAOC holds the right to back-in to a 30% interest in the block in the event that an oil & gas discovery is developed.
Block 12 covers an area of approximately 10,000 sq. km located in Al Wusta Government in the northern part of Block 6 and to the south of the Greater Barik area (including the Mabrouk North East and Mabrouk West fields). TOTAL’s exploration program on the block will comprise seismic acquisition and drilling commitments, with the drilling of a first expected to commence within the next 12 months.