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A Gas Authority of India Limited (GAIL) led consortium signed the Exploration
and Production Sharing Agreement (EPSA) with The Government of the Sultanate of
Oman for Block 56 last week for exploration and production of hydrocarbons.
Other Consortium members include Oilex Australia, Videocon, Hindustan
Petroleum Corporation Limited, and Bharat Petroleum Corporation Limited (BPCL).
GAIL, Oilex and Videocon each have 25% participating interest share of the
consortium.
The Block 56 is an onshore block located in the South Oman Salt Basin area in
the eastern flank and covers an area of 5,809 square kilometers.
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