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Royal Decree

Royal Decree 21/2021 Approving the Assignment by the Government of the Sultanate of Oman of All Its Rights and Obligations Relating to Its Participating Interest in the Agreements on the Exploration and Exploitation of Hydrocarbon in Block 6 in the Sultanate of Oman and Approving the Fiscal Protocol in Relation to Energy Development Oman SAOC’s Participating Interest in the Agreement Extending and Consolidating the Concession Agreement

2021/21 21/2021

Arabic

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

Royal Decree 48/76 regarding the Signing of Foreign and Domestic Financial Transactions,

Royal Decree 50/80 Establishing Petroleum Development Oman Limited Liability Company,

Royal Decree 67/2003 Applying the Unified Customs Law of the Cooperation Council for the Arab States of the Gulf,

Royal Decree 2/2005 Granting the Concession for the Exploration and Exploitation of Hydrocarbon in Block 6 in the Sultanate of Oman,

the Income Tax Law promulgated by Royal Decree 28/2009,

the Oil and Gas Law promulgated by Royal Decree 8/2011,

the Commercial Companies Law promulgated by Royal Decree 18/2019,

Royal Decree 128/2020 Establishing a Closed Omani Joint Stock Company Named Energy Development Oman SAOC,

the Agreement Extending and Consolidating the Concession Agreement concluded on 6 Dhu Al-Qa’dah 1425, corresponding to 19 December 2004 between the Government of the Sultanate of Oman and Private Oil Holdings Oman Limited,

the Shareholders Agreement concluded on 6 Dhu Al-Qa’dah 1425, corresponding to 19 December 2004 between the Government of the Sultanate of Oman and Petroleum Development Oman LLC, Shell Petroleum Company Limited, Total SE, and PTTEP Oman E&P Corporation,

the Operating Agreement concluded on 6 Dhu Al-Qa’dah 1425, corresponding to 19 December 2004 between Petroleum Development Oman LLC, Private Oil Holdings Oman Limited, and the Government of the Sultanate of Oman,

the contract amending the Constitutive Contract of Petroleum Development Oman LLC which governs and regulates the founders' relationship between the Government of the Sultanate of Oman, Shell Petroleum Company Limited, Total SE, and PTTEP Oman E&P Corporation relating to Petroleum Development Oman LLC,

the collection of documents by which the Government of the Sultanate of Oman assigned all of its rights and obligations relating to its participating interest in the aforementioned Agreement Extending and Consolidating the Concession Agreement, Shareholders Agreement, and Operating Agreement to Energy Development Oman SAOC, which accepts this assignment,

and the Fiscal Protocol in Relation to Energy Development Oman SAOC’s Participating Interest in the Agreement Extending and Consolidating the Concession Agreement,

and in pursuance of public interest,

have decreed as follows

Article I

The assignment by the Government of the Sultanate of Oman of all its rights and obligations relating to its participating interest in the aforementioned Agreement Extending and Consolidating the Concession Agreement to Energy Development Oman SAOC is hereby approved. The final shares of the parties to the agreement are as follows:

60% (sixty percent) for Energy Development Oman SAOC.

40% (forty percent) for Private Oil Holdings Oman Limited.

Article II

The assignment by the Government of the Sultanate of Oman of all its rights and obligations relating to its participating interest in the aforementioned Shareholders Agreement to Energy Development Oman SAOC is hereby approved. The final shares of the shareholders in Petroleum Development Oman LLC are as follows:

60% (sixty percent) for Energy Development Oman SAOC.

34% (thirty-four percent) for Shell Petroleum Company Limited.

4% (four percent) for Total SE.

2% (two percent) for PTTEP Oman E&P Corporation.

Article III

The assignment by the Government of the Sultanate of Oman of all its rights and obligations in the aforementioned Operating Agreement to Energy Development Oman SAOC is hereby approved.

Article IV

The aforementioned fiscal protocol is hereby approved.

Article V

Any future amendments to the aforementioned fiscal protocol shall become effective in accordance with its terms and with the approval of the parties concerned.

Article VI

The provisions of the aforementioned fiscal protocol shall apply regardless of any contrary provisions in laws, regulations, or directives in force in the Sultanate of Oman.

Article VII

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

Issued on: 12 Rajab 1442
Corresponding to: 24 February 2021 

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1381 issued on 28 February 2021.


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