Royal Decree 16/2021 Approving the Assignment by Medco Arabia Ltd of 45% of Its Rights and Obligations in the Petroleum Agreement Signed on 20 November 2014 for Block 56 to Tethys Oil Oman Onshore Limited

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

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 Petroleum Agreement Signed on 20 November 2014 for Block 56 to Biyaq Oilfield Services LLC,

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,

and the collection of documents upon which Medco Arabia Ltd assigned 45% 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 assignment,

and in pursuance of public interest,

have decreed as follows

Article I

The assignment by Medco Arabia Ltd of 45% 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. The final shares of the parties to the agreement are hereby as follows:

65% for Tethys Oil Oman Onshore Limited

25% for Biyaq Oilfield Services LLC

5% for Medco Arabia Ltd

5% for Intaj LLC

Article II

This decree shall be published in the Official Gazette, and comes into force on the date of its issuance.

Issued on: 26 Jumada Al-Thani 1442
Corresponding to: 9 February 2021

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1379 issued on 14 February 2021.