BUSINESS REPORTER
MUSCAT: Petroleum Development Oman (PDO), through its subsidiary, and Shell Development Oman (SDO) have signed a contract for Seismic Acquisition in Block 11, signifying a major advancement in Oman’s oil and gas industry. Based on this agreement, SDO is purchasing fully-processed seismic data on Block 11 in line with Exploration and Production Sharing Agreement (EPSA).
The agreement, which is set to run until October 2024, was signed by PDO Managing Director Steve Phimister and SDO’s Walid Hadi, SVP Oman and Country Chair.
PDO Managing Director Steve Phimister said: “We are delighted to sign this new contract with Shell Development Oman, a valued partner in Oman’s oil and gas industry. This collaboration is a significant step forward in our ongoing efforts to unlock Oman’s full hydrocarbon reserve potential.
“Indeed, the collaboration with SDO will enable us to build on our previous regional successes and continue delivering value to our stakeholders.”
Spanning 2,900 square kms in the central region of Oman, Block 11 is an area that could hold significant hydrocarbon potential.
To identify and evaluate prospective hydrocarbon reserves, the seismic survey employs sophisticated technologies, including high-resolution imaging and advanced data processing techniques.
Commenting on this signing, Walid Hadi Shell’s Senior VP and Country Chairman in Oman said: “We are delighted to partner with PDO on this project, which is a reflection of our shared commitment to the sustainable development of Oman’s oil and gas resources. We hope that the seismic acquisition and processing project will provide crucial data to better understand the geology and hydrocarbon potential of the block and we are confident that, along with our partners TotalEnergies and OQ, we will be able to leverage our collective expertise and capabilities to deliver value for Oman.”
10 Jul 2023
