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19/11/2025 04:28 AST
Oman's Ministry of Energy and Minerals signed an additional addendum to the Exploration and Production Sharing Agreement (EPSA) for Oil Concession Block (5), located in the A'Dhahirah Governorate and operated by Daleel Petroleum.
Signing the agreement on behalf of the Government of Oman was Salim Al Aufi, Minister of Energy and Minerals.
Also participating in the signing were Mohammed Al Barwani, Chairman of Mazoon Petrogas, and Wang Guihai, Vice President of Mazoon Petrogas Limited.
This signing comes within the framework of the Ministry of Energy and Minerals' efforts to maintain annual oil and gas production levels and increase the volume of future reserves.
This aligns with its mission to regulate and develop the energy and minerals sectors, ensuring the optimal utilisation of national wealth according to the highest standards of occupational health, safety, and environmental protection.
The new addendum introduces a stimulating financial mechanism that contributes to raising production rates through the development of producing fields and continuing exploration work using the latest technologies in the oil and gas sector.
The agreement also includes a commitment to intensify drilling activities and enhanced oil recovery (EOR) programs, which is consistent with the Ministry of Energy and Minerals' vision for developing and utilising energy resources with high efficiency and innovation to support the national economy.
Daleel Petroleum is considered one of the leading companies in managing oil fields with high efficiency by reducing operating costs and increasing production.
The company has also achieved an Omanisation rate of 98 percent, confirming its commitment to supporting local content through the development of national capabilities and the empowerment of small and medium enterprises (SMEs).
Over the past five years, the company has spent more than RO 4 million on projects serving the local community.
Trade Arabia
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19/11/2025
This week's BD 100 million issue of Government Treasury Bills has been oversubscribed by 151%.
The bills, carrying a maturity of 12 months, are issued by the Central Bank of Bahrain (CBB) on
BNA
19/11/2025
The Central Bank of Oman (CBO) has announced the approved fee structure for the national payment card "Maal" consumer Debit and Prepaid card. The move reflects the Sultanate of Oman's ongoing efforts
ONA
19/11/2025
The strategic partnership between Oman and Japan has long been anchored in energy security, technological exchange, and mutual economic benefit. Since the early 1970s, when Oman first began exporting
Muscat Daily
19/11/2025
The Bahrain Technology Companies Society (BTECH) and WorkSmart Event Management Company concluded the third edition of the "Tech Innovators" initiative at GITEX Global 2025.
The initiative a
Trade Arabia
19/11/2025
The Dubai-based carrier, flydubai, has signed a memorandum of understanding (MoU) with Airbus for 150 A321neo aircraft, making the airline a new Airbus customer.
Sheikh Ahmed bin Saeed Al Ma
Trade Arabia
Financial Information Co.
Saudi Arabia