By Tsvetana Paraskova – Apr 26, 2017, 9:58 AM CDT
Royal Dutch Shell and Oman Oil Company Exploration & Production (OOCEP) have signed a Heads of Agreement for cooperation in resource exploration in an oil and gas block in Oman, the Omani company said on Twitter on Wednesday.
Under the cooperation agreement, Shell Exploration and OOCEP will carry out an initial aerial study, before deciding whether to launch more activities in Block 42, Times of Oman reports.
The block spans on an area of 25,600 square kilometers (9,884 square miles) and could have oil and gas reserves in several geological plays. Block 42 mostly consists of the northeast coastal range of the Omani mountains and the basin immediately to their south. The presence of hydrocarbons has already been proven by exploration wells, which report hydrocarbon shows in several reservoir intervals, OOCEP says.