Petrogas Exploration & Production is focusing on opening up untapped reservoirs in its Oman concessions during 2018 and plans to drill about 90 wells in the country over the year, according to its chief operating officer Azhar Ahmed al-Kidi.

“We have maintained the number of rigs at our concessions in Oman and this is paying off now that oil prices have risen,” said Al-Kidi, speaking in an interview with MEED. “Operations are going well and we are feeling optimistic about 2018.”

Petrogas E&P is a subsidiary of Oman’s MB Holding Company.

During 2017 the company drilled 21 wells in its Rima concession and 70 wells in its Daleel concession, which is also known as Block Five.

“During 2018 we are expecting to drill a similar number of wells,” said Al-Kidi. “This will include both production and exploration wells, some of which will be targeting reservoirs that have not yet been tapped.”

“Hopefully this will see the company to increase its overall production.”

Current production from the Daleel concession stands at 50,000 barrels a day (b/d).

Production from Rima is 12,000 b/d.

Petrogas has a 50 per cent stake in the Daleel concession and a 75 per cent stake in the Rima concession.

The company is also looking to open up untapped offshore reservoirs in the Netherlands over 2018.

In 2014, Petrogas entered the Netherlands by purchasing all the outstanding shares of Chevron Exploration & Production Netherlands (CEPN), including its subsidiary Chevron Transportation (CT).

The Dutch assets A/B and P/Q are now held under Petrogas Exploration & Production Netherlands.

The purchase included operating working interests in 11 blocks in the Dutch sector of the North Sea.

Seven of these blocks, with working interests ranging from 23.5 per cent to 34.1 per cent, make up the A/B Gas Project.

Petrogas also has European assets in Denmark, the UK and Germany. In Africa, Petrogas holds assets in Egypt and Somaliland.