MOL : PSA comes into effect at Block 66 in Oman

12/4/2012

MOL : PSA comes into effect at Block 66 in Oman

BUDAPEST -- MOL said that an Production Sharing Agreement (PSA)  for its onshore Block 66 in Western Oman has come into effect. The agreement was signed on September 9th and became effective November 25th by the issuance of a Royal Decree. Following the ratification, MOL can start the implementation of the exploration work program at the block.

Block 66 is located in the western part of Oman, along the Saudi Arabian border. It's a desert area of 4,899 sq m.

According to preliminary estimates, the total unrisked prospective recoverable resource potential of Block 66 could reach 200 mboe.

Dow Jones Newswires

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