Oman’s Ministry of Oil & Gas has signed an Exploration & Production Sharing Agreement (EPSA) with Oman Oil Company Exploration and Production (OOCEP) for Block 48, a report said.

Covering an area of 2,995 sq km, Block 48 straddles the Dhahirah and Wusta governorates of the Sultanate, the Oman Observer report said.

Isam al Zadjali, CEO of Oman Oil Company, who signed the pact, said: “Block 48 represents a (promising) opportunity as it adjoins Block 60, which OOCEP operates, and we believe there is potential there based on the discoveries we found in Block 60. We are planning to drill a few wells and shoot some seismic, and once we do that, we will review our next steps.”