We, Haitham bin Tarik, the Sultan of Oman
after perusal of the Basic Statute of the State promulgated by Royal Decree 101/96,
the Oil and Gas Law promulgated by Royal Decree 8/2011,
the collection of documents by which Biyaq Oilfield Services LLC assigned 20% of its rights and obligations in the petroleum agreement signed on 20 November 2014 for Block 56 to Tethys Oil Oman Onshore Limited, which accepts this assigned,
and the collection of documents by which Intaj LLC assigned 20% of its rights and obligations in the petroleum agreement signed on 20 November 2014 for Block 56 to Biyaq Oilfield Services LLC, which accepts this assignment,
and in pursuance of public interest,
have decreed as follows
Article I
The assignment by Biyaq Oilfield Services LLC of 20% of its rights and obligations in the petroleum agreement signed on 20 November 2014 for Block 56 to Tethys Oil Oman Onshore Limited is hereby approved.
Article II
The assignment by Intaj LLC of 20% of its rights and obligations in the petroleum agreement signed on 20 November 2014 for Block 56 to Biyaq Oilfield Services LLC is hereby approved.
Article III
The final shares of the parties to the agreement are hereby as follows:
50% for Medco Arabia Ltd
25% for Biyaq Oilfield Services LLC
20% for Tethys Oil Oman Onshore Limited
5% for Intaj LLC
Article IV
This decree shall be published in the Official Gazette and shall come into force on the date of its issuance.
Issued on: 30 Rajab 1441
Corresponding to: 25 March 2020
Haitham bin Tarik
Sultan of Oman
Published in Official Gazette 1335 issued on 29 March 2020.