PetroTel awarded Musandam Block 17in Oman

This article is extracted from International Oil Letter, Vol 25 issue 22, published 1 June 2009.

The Ministry of Oil and Gas (OMOG) had signed a three-year EPSA with US-based PetroTel for the 2,378 sq km Musandam Block 17. The acreage which extends onshore and offshore for a distance of 5km from the Musandam Peninsula coast, adjoins Block 8 where the Tibat 1 gas/condensate discovery was made in 2002. Drilled by Novus, Tibat 1 was abandoned following the completion of a series of tests in the Middle-Lower Cretaceous Mauddud Formation and Thamama Group. The company drilled the well to test a structure straddling the boundary between the offshore section of the Block 17 concession and its operated offshore (Bukha) Block 8 license. Prior to relinquishment, a unitization agreement had been in place, and Tibat's P50 reserves had been revised to 96 Bcfg and 13.3 MMbc. At least one lead has been identified in Block 17, with gas in place estimated at between 150 Bcf to 200 Bcf. Due to the proximity of markets for gas, relatively small discoveries are viewed as potentially commercial.

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