ARA Petroleum Oman Block-31
On 18th December 2017, Royal Decree No 48/2017 AD was executed which formalised the Exploration and Production Sharing Agreement between the Government of the Sultanate of Oman and ARA Petroleum for the exploration and development of the Block-31 concession.
Block-31, which covers an area of 8,528km2, is immediately adjacent to ARA Petroleum Oman Block-44 in a north-westerly direction.
The location and proximity to Block-44 provide distinct and readily deployable technical and operational synergies. The knowledge and expertise that exists within the subsurface team can be directly applied to the evaluation of the opportunities within Block-31, and when exploration successes lead to further appraisal and development the existing facilities and operational capability can be used to accelerate production. This tactic also presents opportunities for both individual and organisational growth and development.
During the initial phase of the current agreement, ARA Petroleum are committed to the completion of a significant concentration of geological and geophysical studies, and the delivery of two (2) exploration wells within the block.