Oman's Ministry of Energy and Minerals has signed a new agreement with Swedish Maha Energy for oil exploration.
In a statement, the ministry said Mohammed Hamad Al Rumhy, the Minister of Energy and Minerals has signed on Monday a new Exploration and Production Sharing Agreement (EPSA) with Swedish Maha Energy (Oman) Limited for having the right to explore and develop the concession Block 70.
According to the statement, Maha Energy can obtain geological and geophysical studies, reprocess 3D seismic and drill appraisals and pilot wells to evaluate and produce the heavy oil in Mafraq field in the Block, under the agreement.
The Ministry hopes that the company's efforts will be successful in producing new oil fields to increase oil reserves and raise production level in the Sultanate.
