Oil & Gas

Exploration and Product Sharing Agreement In Blocks No. 3 and 4

Title

Exploration and Product Sharing Agreement In Blocks No. 3 and 4


Date

25 February 2008


Type

Agreement


Partners Involved

Occidental Petroleum Company USA


Purpose

Oil exploration in blocks no. 3 and 4

The digging of 30 wells , two wells in block 4 and one well in block 3​



Goals

- The development of the kingdom national resources
-To increase and diversify national revenue sources.​


More Information

Exploration period is 7 years


In case of successful exploration, product sharing lasts 24 years​



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