Petroleum Development block concession extended

The government of Oman has extended Petroleum Development Oman's Block 6 concession for 40 years to December 31, 2044.

"There are huge resources in Block 6, but the reservoir structures in Oman are among the most geologically complex in the world.

"Their effective exploitation has always required a wide range of production techniques," said Malcolm Brinded, executive director of exploration and production at the Royal Dutch/Shell Group of Companies.

The agreements extending the concession were signed by Dr Mohammad Bin Hamed Al Rumhi, Omani minister of oil and gas, and Brinded.

"I am pleased to sign these agreements, which provide the certainty that the government, Shell and the other private shareholders require to take PDO forward," Brinded said.

While the government of Oman owns 60 per cent of Petroleum Development Oman (PDO), Shell owns 34 per cent and is technical adviser to the company.

Total of France holds four per cent and Partex Oman Corporation holds two per cent stake in PDO.

Block 6 is PDO's sole oil concession and is located in central and southern Oman.