PTTEP to receive Block 58 in Oman

April 12, 2006
Thailand's PTT Exploration & Production PLC (PTTEP) submitted the winning bid for 2,264 sq km Block 58 in southwestern Oman.

By an OGJ correspondent
BANGKOK, Apr. 12 -- Thailand's PTT Exploration & Production PLC (PTTEP) submitted the winning bid for 2,264 sq km Block 58 in southwestern Oman.

PTTEP expects to sign the exploration and production-sharing agreement (EPSA) for the acreage in June. PTTEP will own and operate the block.

Block 58 will be PTTEP's second venture in Oman. The company plans to start production at midyear from Shams-4 field on Block 44, a 1,162 sq km tract 300 km west of Muscat (OGJ Online, Jan. 17, 2006).

The terms of EPSA for Block 58 were not disclosed. The Omani government reserved the right to a 20% interest if a commercial discovery is made.