document: Shell has recently farmed-in to onshore Block 42 (Sharqiya) in NE Oman, with the company understood to have also acquired operatorship of the acreage. Prior to the transaction, the block was solely held by Oman Oil Co Exploration & Production LLC (OOCEP), a wholly-owned subsidiary of Oman Oil Co SAOC (OOC). It is unclear at this point how much equity Shell has received in this asset.<P />The move follows the signing of a Heads of Agreement (HoA) between the two companies in April 2017, to collaborate in the exploration of onshore Block 42. Under the terms of the agreement the two companies were to conduct an initial aerial study, before potentially undertaking further and more focused activities in the block. <P />The block covers an area of 25,590 sq km in the NE of the country and is believed to hold hydrocarbon potential in several geological plays. A number of potential exploration leads are understood to have been mapped at Haima, Mid-Lower Nafun, Masirah Bay and Abu Mahara reservoir levels. OOCEP previously stated that the presence of hydrocarbons has already been proven by previous exploration wells, with the most recent having been drilled in 2015. At the time, the company drilled two exploration wells in a back-to-back drilling programme to evaluate the hydrocarbon potential of the Sedrah NW and Rimal al Sharqiya prospects.
summary: Shell has recently farmed-in to onshore Block 42 (Sharqiya) in NE Oman, with the company understood to have also acquired operatorship of the acreage. Prior to the transaction, the block was solely held by Oman Oil Co. E&P.