The Ministry of Oil and Gas has signed today, 5 of July 2020, new Exploration and Production Sharing Agreement (EPSA) en route for having the right to explore and develop the concession Block 58.

The agreements was signed in Muscat on behalf of the Government of the Sultanate of Oman by His Excellency Moahmmed Hamed Al Rumhy, the Minister of Oil and Gas and Tethys Oil Qatbeet limited LLC for Block 58, which occupies an overall area of  4557 km2. The agreement was signed on behalf of Tethys Oil by Hussain Al Lawati, the VP Corporate Affairs.

The commitment of the company under the agreement is obtaining geological and geophysical studies, 3D seismic acquisition and drill wells during exploration periods.