The Ministry of Energy and Minerals (MEM) of Oman has signed a feasibility study agreement with Westlawn Middle East (WLME) and Salamander Solutions Middle East (SSME) to evaluate the potential for heavy crude oil production in Block 71 using Salamander's advanced electric heating technology.
Under the agreement, WLME and SSME are
granted the rights to drill appraisal wells in Block 71 to evaluate the
technical and commercial viability of applying this proprietary and innovative
technology to one of the country's most challenging high potential reservoirs.
Should the feasibility study demonstrate
technical and commercial success, the parties will move toward negotiating a
long-term concession agreement.
"This is our first transaction in Oman
since establishing our in-country presence in 2024, and we are delighted to
partner with the Ministry of Energy and Minerals and Salamander Solutions. We
look forward to unlocking significant value for the country," said Chadi
Letayf, Executive Vice President, Westlawn.
Hatem Haidar, CEO of Salamander Solutions,
added: "This agreement marks a significant milestone in deploying our
proprietary electric heating technology in the Middle East. We are excited to
partner with the Ministry of Energy and Minerals and Westlawn to demonstrate
its value in unlocking complex reservoirs."
The feasibility study will commence
immediately and is expected to conclude within two years. -TradeArabia News Service