BLP advises Harvest Natural Resources Inc. on Oman gas exploration
Berwin Leighton Paisner (BLP) has advised Harvest Natural Resources Inc. (Harvest) in relation to an Exploration and Production Sharing Agreement with the Sultanate of Oman. The transaction, which involved a complex concession arrangement and the granting of rights to non-associated gas and condensate (including deep gas), will enable Harvest to explore and develop the recently created Al Ghubar / Qarn Alam block located in the Ghaba Salt Basin. The contract grants Harvest an 100% working interest during the exploration phase. Oman Oil Company will have the option to back in to up to a 20% interest in the block after the discovery of gas.
Harvest, an independent energy company listed on the NYSE, is based in Texas and has principal operations in Venezuela. The company also has exploration assets in Asia, Africa, the USA and the Middle East.
Energy partner Adam Dann led the BLP team acting on this key transaction, assisted by associates Christine Rae from the Abu Dhabi office and Jordan Phillips, based in London. Commenting on the deal, Adam said: “This transaction is significant for both BLP and Harvest. It builds upon BLP’s extensive experience in the power and water sectors in Oman and establishes Harvest in a new and promising jurisdiction.”
Keith Head, General Counsel at Harvest Natural Resources, said: “We are delighted to have secured this agreement to explore gas in Oman and would like to thank the team at BLP for their hard work in helping us to achieve this”.
The government of Oman was represented by Allen & Overy.
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