The Sultanate of Oman, represented by the Ministry of Energy and Minerals, has signed an agreement with Daleel Petroleum Company to explore and develop Concession Area No. 15 in Al Dhahirah Governorate. This agreement aims to enhance oil and gas reserves and expand production rates through the resources of the designated area, which spans 1,389 square kilometres. Daleel Petroleum Company will conduct geological and geophysical studies, reprocess existing seismic data, conduct a 3D seismic survey, and drill wells to assess the hydrocarbon potential in the area.
The agreement was signed by Salim Nasser Al Aufi, Minister of Energy and Minerals, along with executives from Mohammed Al Barwani Group and the People’s Republic of China’s national development corporation. Dr. Salah Hafiz Al Dhahab, Director General of Investment at the Ministry of Energy and Minerals, highlighted Daleel Petroleum Company’s success in developing Concession Area No. 5 and increasing its daily oil production from 5,000 to more than 50,000 barrels per day. He attributed this success to the company’s investment in advanced technology and continuous development, resulting in competitive operating costs.
Al Dhahab emphasized that the agreement reflects the government’s confidence in national companies operating in the sector and its commitment to strengthening relationships with Chinese partners. This partnership opens doors for further cooperation opportunities and foreign investments in Oman’s oil and gas sector. The strategic collaboration between Oman and Daleel Petroleum Company is poised to drive growth and innovation in the exploration and development of oil and gas resources in the country.
This agreement reinforces the Sultanate of Oman’s commitment to leveraging its natural resources to drive economic growth and enhance energy security. By partnering with Daleel Petroleum Company, the government is demonstrating its commitment to supporting national companies and fostering international collaborations. The exploration and development activities in Concession Area No. 15 are expected to contribute significantly to Oman’s oil and gas production capacity and boost its position as a key player in the global energy market.
The collaboration between Oman and Daleel Petroleum Company underscores the importance of investing in advanced technology and innovation to unlock the full potential of oil and gas resources. By leveraging cutting-edge geological and geophysical studies, as well as state-of-the-art drilling technologies, the partners aim to maximize the efficiency and productivity of oil and gas extraction in the designated area. This strategic initiative is aligned with Oman’s vision to drive sustainable economic development and position itself as a leading player in the energy sector.
In conclusion, the agreement between the Sultanate of Oman and Daleel Petroleum Company represents a significant milestone in the development of Oman’s oil and gas sector. By leveraging the expertise and resources of both parties, the exploration and development activities in Concession Area No. 15 are poised to drive growth, innovation, and sustainable development in the country. This strategic collaboration underscores Oman’s commitment to investing in advanced technology, fostering national companies, and enhancing partnerships with international stakeholders to unlock the full potential of its oil and gas resources.
