The Ministry of Energy and Minerals has awarded the development of concession area 56 to Tethys Oil Company, which was declared a commercial zone, with an extension of the Exploration and Production Sharing Agreement (EPSA) for an additional 20 years to continue until 2044. This initiative is part of the Ministry's commitment to harnessing natural resources within a framework of safety and environmental protection, underscoring its dedication to balancing economic development with environmental sustainability.

The project encompasses the development of discovered fields in the southern Sultanate of Oman, specifically in the Al Jazer and Shaleem Wilayats. These fields include Al Jumd, Al-Manna, and Sarha, with a focus on extracting oil from the Khulata and Karim formations within a 5,808 square kilometer area. Furthermore, the project incorporates additional exploration activities in promising sites, poised for significant future growth. The investment in concession area 56 is projected to surpass $240 million in the near future, with the potential for increased investment as exploration and evaluation progress.

This accomplishment underscores the Directorate General of Oil and Gas Exploration and Production's dedication to efficient sector management. By bolstering oil reserves and increasing production through ambitious development plans, these endeavors contribute to sustainable economic and social returns from natural resource utilization. Furthermore, they enhance energy security and support sustainable development, aligning with the goals of Oman Vision 2040.