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France’s TotalEnergies in gas exploration deal with Oman

Symbol, Sign, Scissors Reuters/Stephane Mahe
The deal was signed in 2021 for TotalEnergies to build four oil, gas and renewables projects

French major TotalEnergies said in a statement on Friday it had signed a natural gas exploration and production sharing agreement with the Oman energy ministry.

The deal concerns an area called onshore Block 11, with a first exploration well to be drilled in 2023.

TotalEnergies will hold a 22.5 percent interest in the block, OQ 10 percent and Shell, holding 67.5 percent, will be the operator.

“Today’s entry into the Block 11 gives us the opportunity to unlock additional potential to meet domestic and export gas demand,” TotalEnergies said.

The French multi-energy company recently has sold its 18 percent interest in the onshore Sarsang oil field in the Kurdistan region of Iraq for $155 million, the company said in a statement.