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Royal Decree

Royal Decree 29/2021 Approving the Transfer by BP Exploration (Epsilon) Limited of 20% of Its Rights and Obligations in the Amended Petroleum Agreement Signed on 8 November 2016 for Block 61 to PTTEP MENA Limited

2021/29 29/2021

Arabic

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 17/2007 Approving the Petroleum Agreement between the Government of the Sultanate of Oman and British Petroleum (BP Amoco Exploration Epsilon Limited) for Block 61,

Royal Decree 11/2014 Approving the Amended Petroleum Agreement between the Government of the Sultanate of Oman and British Petroleum (BP Exploration Epsilon Limited) for Block 61,

Royal Decree 14/2017 Approving the Amended Petroleum Agreement between the Government of the Sultanate of Oman, BP Exploration Epsilon Limited, and Makarim Gas Development LLC for Block 61,

Royal Decree 44/2018 Approving the Assignment by Makarim Gas Development LLC of 10% of Its Rights and Obligations in the Amended Petroleum Agreement Signed on 8 November 2016 for Block 61 to PC Oman Ventures Limited,

and the collection of documents by which BP Exploration (Epsilon) Limited assigned 20% of its rights and obligations in the amended petroleum agreement signed on 8 November 2016 for Block 61 to PTTEP MENA Limited, which accepts this assignment,

and in pursuance of public interest,

have decreed as follows 

Article I 

The assignment by BP Exploration (Epsilon) Limited of 20% of its rights and obligations in the amended petroleum agreement signed on 8 November 2016 for Block 61 to PTTEP MENA Limited is hereby approved. The final shares of the parties to the agreement shall be as follows:

– 40% for BP Exploration Epsilon Limited.

– 30% for Makarim Gas Development LLC.

– 20% for PTTEP MENA Limited.

– 10% for PC Oman Ventures Limited.

Article II 

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

Issued on: 9 Sha’ban 1442
Corresponding to: 23 March 2021 

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1385 issued on 28 March 2021.