Shell signs agreement on energy development in Oman
May 13, 2018
Muscat, Oman: Shell Gas & Power Developments B.V. (Shell) has signed a Memorandum of Understanding (MoU) with the Government of Oman to cover proposed energy development projects in Oman. The agreement covers upstream gas exploration and development, gas-to-liquids (GTL), liquified natural gas (LNG) and renewable energies.
The MoU sets out an initial mutual understanding between Shell and Oman and serves as a platform for further negotiations on the proposed developments. Under the agreement, Shell is to operate an upstream project with Total and Oman Oil Company (OOC) as partners. It will also operate a GTL project with OOC as a partner.
The proposed investments will help Oman meet its energy needs and growth aspirations and are aligned with Shell’s strategy of building a resilient and relevant portfolio that is positioned for long term success.
On signing the agreement, Maarten Wetselaar, Shell Integrated Gas & New Energies Director, said: “Shell has a long and proud history in Oman, and we are pleased to have the opportunity to take it to new levels through our proposed programme of development and investment in the country. We are hopeful we can use Shell’s integrated gas and new energies investment to accelerate Oman’s diversification and industrialization agenda. The proposals could also enhance in-country value, resulting in value and job creation in Oman’s economy.”
Chris Breeze, Shell’s Country Chair in Oman, said: “We are focused on maximising value for Oman and Shell by sustainably developing the country’s resources and increasing the share of renewable energy in Oman’s energy mix. This is in line with Shell’s aim to provide more and cleaner energy solutions.”
The MoU sets out an initial mutual understanding between Shell and Oman and serves as a platform for further negotiations on the proposed developments. Further announcements will be made as and when appropriate.
About Shell in Oman:
Shell is active in Oman across the oil and gas industry and is involved in joint venture and independent activities ranging from research and development, exploration and production to trading and development. Shell also implements extensive social investment programmes that contribute to the sustainable development of the country.
Shell has a 30% share in Oman LNG LLC, 49% ownership of Shell Oman Marketing Company SAOG, and 34% of Petroleum Development Oman.
For media enquiries contact:
Mr. Nureddin Wefati
Head of Media Relations for Middle East & North Africa
Shell EP International
Mr. Hassan Almarashi
Spokesperson Middle East & North Africa
Shell EP International Ltd
Tel: +9714 705 5783
Cell: +97156 226 0924
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