Hydrocarbon Finder will takeover exploration and production in Oman's Block 7 oil fields, according to the terms of a new Exploration and Production Sharing Agreement (EPSA) signed Thursday in Muscat by the Ministry of Oil and Gas.
Block 7 is a 900-square-mile tract in the Al-Wasta area of Oman. It contains three oil fields that are currently being managed by Petrogras, and will continue to be until that agreement expires in April.
In addition to exploration and production, Hydrocarbon Finder will reinterpret existing Block 7 data and add to Oman's understanding of the area by gathering new 3D seismic surveys and other information.
Ministry officials have said the block currently produces approximately 900 barrels of oil per day.