By OGJ editors
HOUSTON, June 12 -- Novus Petroleum Ltd., Sydney, obtained 100% interest in a 600 sq km onshore exploration block in the northernmost emirate.
Novus said it will draw from its experience as operator of Oman's only offshore production, Bukha field, where it has identified a play fairway that runs south of the Jebel Akhdar mountains into Oman.
With addition of the Ras al Khaimah block and Oman blocks 17, 47, 15, and 31, Novus holds acreage along the entire length of the play system.
Novus said the Northern Arabian Peninsula gas-condensate play "has historically been recognized as prospective for sizable wet gas accumulations but until recently was underexplored due to the lack of demand for gas in the region. Unlike 20 years or even five years ago, there is now a valuable domestic gas market in the region."
The block does not include the emirate's total land area.