Muscat: PTT Exploration and Production Public Company Limited has successfully secured an extension for its contract on the Oman Project, Block 53. The recent agreement was formalized through a signing ceremony attended by key industry leaders and government officials.
According to Thai News Agency, the extension was finalized with signatures from Mr. Montri Rawanchaikul, CEO of PTT Exploration and Production Public Company Limited, and HE Salim bin Nasser Al Aufi, Minister of Energy and Minerals of Oman. The event also saw participation from Ms. Vicki Hollub, CEO of Occidental Petroleum, Mr. Ashraf Al Mamari, CEO of OQ Company, and Mr. Rashed Al Blooshi, Director of Non-Operated Assets at Mubadala Energy.
The renewed contract ensures the continued operation of the Muqaizna field, a significant crude oil producing site in Oman. This extension is set to run until 2050, underscoring the field's importance in driving growth within Oman's energy sector and economy. The signing ceremony took place in Muscat, Oman, marking a pivotal moment for the stakeholders involved.