Oman signs petroleum agreement with the American company Amoco

The Omani minister of Petroleum and Gas Mohammed Ben Hamd El-Ramhy signed a new privilege agreement for petroleum with the US company Amoco, the third exploration agreement this month after signing agreements with the companies Triton and Occidental.

The agreement with Amoco includes rights to drilling for petroleum, gas and their byproducts in two regions in the northwest of Oman, covering an area of 2,555 square km.

The new agreement also dictates that the company will launch investments valued at a minimum of $28.5 million minimally during exploration programs, which include the digging of four wells and initiating geological studies.

This agreement is the 15th in a series of agreements signed with international companies. There are still nine suggested exploration regions, and there are current negotiations in this respect with Indian and Dutch companies.