Al Busaidy Mansoor Jamal & Co.

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Oil and Gas

AMJ advises Qatar Petroleum on deal with Oman for Block 52

Filed under AMJ Deals, AMJ News, Oil and Gas

AMJ has advised Qatar Petroleum on the acquisition of a 30% participating interest in the contractor’s interest under the exploration and production sharing agreement (EPSA) for Block 52 offshore of Oman. The deal involved AMJ advising Qatar Petroleum on Oman’s corporate, oil and gas and environmental laws and related regulatory approvals.

Following the completion of the assignment, the contractor under the EPSA will consist of affiliates of Eni with a 55% stake, Qatar Petroleum with 30% and Oman Oil Company Exploration and Production LLC with 15%.

Block 52 is an area of more than 90,000 km2 located offshore in the southern region of Oman extending from Al Wusta region towards Dhofar, encompassing the Hallaniyat islands. Largely under-explored, it is located in water depths ranging from 10 meters to over 2,000 meters. Following acquisition of the interest by Qatar Petroleum, the contractors are expected to embark on executing an exploration programme involving the acquisition and processing of 3D seismic which would be followed by exploratory drilling.

The AMJ team comprised senior partner, Mansoor Malik, and senior associate, Asad Qayyum. Allen & Overy acted as international counsel to Qatar Petroleum on the deal.

Commenting on the deal, Malik said “It is a pleasure to have advised Qatar Petroleum on its first hydrocarbon interest acquisition in Oman. As a premier LNG explorer and operator in the world, Qatar Petroleum’s entry into Oman is indicative of the attractive opportunities for investment available in the country”.