Oman inks new oil, gas exploration deal

Oman inks new oil, gas exploration deal
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Mubasher: Oman has signed a deal for oil and gas exploration with Petroleb.

The agreement with the Lebanese company comes one month after Lebanon approved its first offshore energy exploration.

Petroleb will drill exploratory wells to assess oil reserves in the Al-Afif concession area of southern Oman, inland from the Yemeni and Saudi Arabian borders, according to Oman News Agency (ONA).

The goal is to increase oil reserves and raise production rates in the sultanate, according to the Omani ministry of oil.