French major Total this week signed a Heads of Agreement (HoA) with Oman’s Ministry of Oil and Gas (MOG) to explore “significant prospective gas reserves” in Block 12 – a newly-created 10,000 km² exploration license that overlaps a large chunk of Petroleum Development Oman’s (PDO) massive Block 6.
Total says its exploration program “will comprise seismic acquisition and drilling commitments, with a first well in 2020.” Total will hold 100% of Block 12 during the exploration phase. Whilst not stated in Total’s press release, Oman (most probably Oman Oil Company) will likely receive a non-operating stake should the gas be developed. (CONTINUED - 665 WORDS)
