- Eng. Salim Al Aufi: This aligns with our goal of empowering Omani energy operator
- Usama Al Barwani: The agreement will increase ICV and Foreign Direct Investment through our international partners
Mazoon Petrogas, a subsidiary of Petrogas E&P (PG), the Exploration and Production arm of the Mohammed Al Barwani Group, along with its partner CNPC, has signed an agreement with the Ministry of Energy and Minerals for the exploration and production of Oil and Gas within the concession area Block 15. The agreement was signed by HE. Engineer Salim Al Aufi, Minister of Energy and Minerals, and Dr. Mohammed Al Barwani, the Chairman and Founder of MB Group, along with Mr. Zhang Yu, Vice President of CNODC.
Through this new agreement, Petrogas aims to continue its successful collaboration with the government, demonstrating its commitment to the local economy and community. Leveraging 25 years of experience and the unique talents of both Omani and international experts in the field of oil and gas, and supported by world-class infrastructure, Petrogas, through its joint venture Daleel petroleum as the operator, will explore Block 15 for potential Oil and Gas reserves. If successful, it will swiftly execute fit for purpose development plans to ensure efficient operations, optimizing production and resource recovery.
The agreement also includes the continuation of Foreign Direct Investment (FDI) through Petrogas’s ongoing partnership with CNPC, a major Chinese oil and gas player. This marks a significant milestone following previous successes in Block 5, operated by Petrogas and CNPC’s joint venture, Daleel Petroleum.
Petrogas has over the years achieved many successes in Egypt, the Netherlands, and the UK. It has also delivered exceptional value on behalf of Petroleum Development Oman in the Rima Small Satellite Fields, where Petrogas succeeded in in consistently increasing production and reserve additions.
Commenting on the agreement, H.E. Salim Al Aufi, the Minister of Energy and Minerals, said: “This new agreement represents a significant investment in Oman, driving economic growth, job creation, and the delivery of FDI through Petrogas’ partners in this project. It aligns with our aims to empower local energy providers and reinforce their critical role in advancing Oman’s economic prosperity.”
Usama Al Barwani, Vice Chairman MB group and Managing Director of Petrogas E&P, stated: “We deeply value the trust placed in us by the Omani government and cherish our long-standing partnership with CNPC. This new agreement underscores our commitment to exploring further opportunities in Oman. We aspire to continue contributing significantly to the growth of Oman’s energy sector through safe and efficient operations, as well as the positive impact we have on the local communities in which we operate”
Kingsuk Sen, CEO of Petrogas E&P, stated that: “We are thrilled with this award and remain steadfast in our commitment to swiftly deploy latest technology and innovative approaches, to unlock the block’s resource potential. We are grateful to the government for their continued trust and support. With a proven track record of safe and efficient operations, along with significant investments in Oman that have consistently enhanced production and reserves, we remain committed to driving further value-added growth”