The Ministry of Energy and Minerals has signed a new Exploration and Production Sharing Agreement (EPSA) en route for having the right to develop the concession Block 71.

The agreement was signed in Muscat on behalf of the Government of the Sultanate of Oman by His Excellency Dr. Mohammed bin Hamed Al Rumhy, Minister of Energy and Minerals and signed on behalf of Majan Energy LLC by Eyhab Al Haj, the Chairman.

The block 71 occupies an overall area of 282 km2 with a proven very heavy oil, where the company committed under the agreement to obtain geological and geophysical studies, drill appraisal and Pilot wells and use different enhanced visibility program technology to evaluate and produce the heavy oil in Habhab field in the Block.

The Ministry of Energy and Minerals is aspiring that the company efforts will be crowned with success in discovering hydrocarbons which will increase the reserves and the production rates in the country.