(CercleFinance.com) – TotalEnergies and its partners have signed an exploration and production sharing contract for Block 11 with the Ministry of Energy and Minerals (MEM) of the Sultanate of Oman.
TotalEnergies will hold a 22.5% stake in this block, alongside OQ (10%) and Shell (67.5%, operator).
‘Our entry into block 11 opens the way to potential gas developments to meet the demand for gas in the country and for export. This project reinforces our strategic relationship with the Sultanate of Oman, as evidenced by our entry last December into neighboring Block 10 and the start of construction in July of a 17 megawatt-peak solar installation, which will power a seawater desalination plant,” said Laurent Vivier, Middle East and North Africa Director, Exploration and Production, TotalEnergies.
HE Salim bin Nasser Al Aufi, Minister of Energy and Minerals of the Sultanate of Oman, said: ‘This agreement strengthens strategic relationships with industry partners such as Shell, TotalEnergies, OQ and others, with a view ensure Oman’s energy security and attract more foreign investment, to create value within the local supply chain. ‘
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