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Petrogas E&P LLC


PROPOSALS DUE: Details to be provided in the confidential information.







Petrogas E&P LLC has engaged FirstEnergy Capital LLP (“GMP FirstEnergy”) as exclusive advisor for the farm-out of Block 55, onshore Oman. Block 55 is held by Petrogas Kahil, a 100% owned subsidiary of Petrogas.

Key Opportunity Highlights

Asset Location

High impact exploration in both established and recently proven oil plays

  • Mature  hydrocarbon province with extensive production and exploration history, existing infrastructure and established routes to market. 
  • Analogous fields are present in adjacent acreage to the west (Rima Small Fields) and to the north-east (GA-South-1 offshore).
  • Experienced operator with over 17 years of operational experience in Oman and excellent in-country relationships.
  • Successful development of the Rima Small Fields cluster and proven track record both in Oman and  in other international oil and gas ventures.
  • Prospects and leads have been mapped in multiple, independent, geological domains across the block. 
  • Petrogas has identified approximately 700 MMbblof STOIIP (gross, unrisked), with several key prospects matured to the drill ready stage for upcoming 2017-2018 drilling campaign.
  • Established in-country E&P service sector allows for a low cost exploration and development environment. 
  • Modest commercial threshold for field size with attractive economics in a low oil price environment.
  • Various development options and early monetisation ofany discovered resources during extended well test.
  • Potential to truck oil for early development, or extend nearby infrastructure into the block for pipeline access to international markets.
  • Attractive EPSA terms, with the ability to extend the exploration period by two years following completion of Phase One activities.

Regional Infrastructure

Offering, Deal Structure & Process

Petrogas is seeking a partner to jointly participate in the forthcoming exploration of Block 55, due to commence in Q1 2017. Petrogas’s preference is for the interested party to structure a farm-in proposal to acquire an interest by equalising on past costs and funding a disproportional share of the forward work program.

After signing a Confidentially Agreement (“CA”), interested parties will be provided with access to a comprehensive online dataroom. A physical dataroom, with access to seismic workstation, will be hosted at Petrogas’s office in Muscat and available for prospective buyers through the months of November and December 2016.

For more information please contact:

Mark Llamas
Managing Director
Acquisitions & Divestitures
+44 (0)20 7448 0224
mwllamas@gmpfirstenergy.com

Paul Bannister
Director
Acquisitions & Divestitures
+44 (0)20 7448 0241
pbannister@gmpfirstenergy.com

Tom Whittington
Associate
Acquisitions & Divestitures
+44 (0)20 7448 0223
tmwhittington@gmpfirstenergy.com

Elizabeth Bull
Associate
Acquisitions & Divestitures
+44 (0)20 7448 0246
eabull@gmpfirstenergy.com