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Oman Expands Oil, Gas Exploration by Signing New Concession Agreement

Officials at the contract signing ceremony (Oman News Agency)
Officials at the contract signing ceremony (Oman News Agency)
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Oman Expands Oil, Gas Exploration by Signing New Concession Agreement

Officials at the contract signing ceremony (Oman News Agency)
Officials at the contract signing ceremony (Oman News Agency)

The Omani Ministry of Energy and Minerals on Sunday signed an agreement with Daleel Petroleum Company (the operator) to explore and develop Concession Area No. 15 in Al Dhahirah Governorate.
The concession agreement constitutes a strategic step towards enhancing oil and gas reserves and expanding production rates through the resources of Area No. 15, a stretch of ​​1,389 square kilometers.
Through this new agreement, Daleel Petroleum Company will undertake a set of geological and geophysical studies, reprocess existing seismic data, conduct a 3D seismic survey and drill several wells to assess the hydrocarbon potential in the designated area.
The agreement was signed by Salim al Aufi, Minister of Energy and Minerals, Mohammed al Barwani, Chairman and Founder of Mohammed Al Barwani Group and Zhang Yu, Vice President of the People’s Republic of China’s national development corporation.
Salah Hafiz Al Dhahab, Director General of Investment at the Ministry of Energy and Minerals, said that Daleel Petroleum company was awarded the contract (as the operator) due to its success in developing Concession Area No. 5 with high efficiency and raising its daily oil production from 5,000 to more than 50,000 barrels per day, according to the Oman News Agency.
Al Dhahab added that the agreement embodies the government’s confidence in national companies operating in the sector, while at the same time underlines Oman’s keenness to consolidate its relationship with Chinese partners, opening the way for more cooperation opportunities that would attract foreign investments.

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Africa Faces Steep Costs as Temperatures Soar, Says WMO 

A general view of flood water in South Tokar, Red Sea State, Sudan, August 28, 2024. (Reuters)
A general view of flood water in South Tokar, Red Sea State, Sudan, August 28, 2024. (Reuters)
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Africa Faces Steep Costs as Temperatures Soar, Says WMO 

A general view of flood water in South Tokar, Red Sea State, Sudan, August 28, 2024. (Reuters)
A general view of flood water in South Tokar, Red Sea State, Sudan, August 28, 2024. (Reuters)

Africa faces an increasingly heavy toll from climate change with many countries having to spend up to 9% of their budgets battling climate extremes, a World Meteorological Organization (WMO) report said on Monday.

Despite producing far lower greenhouse gas emissions than other continents, Africa's temperatures have risen more rapidly than the global average.

African countries are now losing on average 2%–5% of gross domestic product responding to deadly heatwaves, heavy rains, floods, cyclones, and prolonged droughts, said the WMO's State of the Climate in Africa 2023 report.

For sub-Saharan Africa, adapting to the changing climate will cost an estimated $30-50 billion per year over the next decade, it said, urging countries to invest in state meteorological and hydrological services and to speed up the implementation of early warning systems to save lives.

The warning comes as African countries mull how to use this year's UN COP meetings to secure a bigger share of global climate financing.

The 54-nation continent has been attracting more funds for climate mitigation and adaptation projects in recent years, but it still gets less than 1% of annual global climate financing, government officials said earlier in August.