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Royal Decree

Royal Decree 35/2020 Approving 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, and the Assignment by Intaj LLC of 20% of Its Rights and Obligations in this Agreement to Biyaq Oilfield Services LLC

2020/35 35/2020

Arabic

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,

Royal Decree 72/2014 Approving the Petroleum Agreement between the Government of the Sultanate of Oman, Medco Arabia Ltd, and Intaj LLC for Block 56,

Royal Decree 12/2019 Approving the Assignment by Medco Arabia Ltd of a Third of Its Rights and Obligations in the Agreement Signed on 20 November 2014 for Block 56 to Biyaq Oilfield Services LLC,

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.