MUSCAT, Feb. 20 (Xinhua) -- The Omani Ministry of Oil and Gas on Wednesday signed an agreement with Shell and Total in partnership with Oman Oil Company to develop the Greater Barik area in the Mabrouk field in northern Oman.
The ministry said in a statement that the Mabrouk field will remain owned by the government and under the management of Petroleum Development Oman(PDO).
The initial agreement will give Shell, Total and Oman Oil the legal cover for financing excavations in the northeast and west areas of the Mabrouk gas field, until the final concession agreement to be signed by the end of this year, it noted.
At the beginning of last year, PDO announced that it discovered in this field that the recoverable amounts would be more than 4 trillion cubic feet and about 112 million barrels of condensate oil.
It is worth noting that the total reserves of oil and condensates in Oman by the end of 2017 amounted to about 4 billion and 740 million barrels, and the total reserves of gas stood at about 25 trillion cubic feet.
PDO is owned by the government of the Sultanate with 60% shares while the remaining shares are distributed by the Dutch Shell with 34%, the French Total with 4% and the Portuguese Partex Oil with 2%.
