Muscat – Mazoon Petrogas, a subsidiary of Petrogas E&P, along with its partner China National Petroleum Corporation (CNPC), has signed an agreement with the Ministry of Energy and Minerals for the exploration and production of oil and gas in Oman’s Block 15 concession area.

Petrogas E&P is the exploration and production arm of the Mohammed Al Barwani Group (MB Group). Over the years, the company has grown steadily, earning a reputation as a global player in oil and gas exploration and production.

The agreement was signed by H E Salim al Aufi, Minister of Energy and Minerals; Dr Mohammed al Barwani, Chairman and Founder of MB Group; and Zhang Yu, Vice President of CNODC, a wholly-owned subsidiary of CNPC.

Through this agreement, Petrogas aims to continue its successful collaboration with Oman’s government, demonstrating its commitment to the local economy and community. Petrogas, through its joint venture Daleel Petroleum, will explore Block 15 for potential oil and gas reserves. If successful, the company plans to swiftly execute fit-for-purpose development plans to ensure efficient operations, optimising production and resource recovery, according to a press statement.

The agreement also includes the continuation of foreign direct investment (FDI) through Petrogas’s ongoing partnership with CNPC, a major Chinese oil and gas company. This marks a significant milestone following previous successes in Block 5, operated by the Petrogas and CNPC joint venture, Daleel Petroleum.

Petrogas has achieved significant successes in Egypt, the Netherlands, and the UK. The company has also delivered exceptional value on behalf of Petroleum Development Oman (PDO) in the Rima Small Satellite Fields in Oman, where it consistently increased production and reserves.

Commenting on the agreement, H E Aufi said, “This new agreement represents a significant investment in Oman, driving economic growth, job creation, and the delivery of FDI through Petrogas’s partners in this project. It aligns with our goal to empower local energy providers and reinforce their critical role in advancing Oman’s economic prosperity.”

Usama al Barwani, Vice Chairman of MB Group and Managing Director of Petrogas E&P, said, “We deeply value the trust placed in us by the Omani government and cherish our long-standing partnership with CNPC. This new agreement underscores our commitment to exploring further opportunities in Oman. We aspire to continue contributing significantly to the growth of Oman’s energy sector through safe and efficient operations, as well as the positive impact we have on the local communities in which we operate.”

Kingsuk Sen, CEO of Petrogas E&P, added, “We are thrilled with this award and remain steadfast in our commitment to swiftly deploy the latest technology and innovative approaches to unlock the block’s resource potential. We are grateful to the government for their continued trust and support. With a proven track record of safe and efficient operations, along with significant investments in Oman that have consistently enhanced production and reserves, we remain committed to driving further value-added growth.”

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