Oman’s ARA Petroleum plans to carry out workover and drilling activities in Block 44, a natural gas and condensate development, a report said.

ARA Petroleum confirmed in a note on its website that it had signed a Sales and Purchase Agreement (SPA) to acquire PTTEP Oman Company Limited, which holds a 100 per cent interest in Block 44, according to Oman Observer.

“ARA’s intention is to carry out workover and drilling campaigns during 2017 and 2018.  Additional engineering studies will begin imminently and be carried out with a view to developing an optimal life of field development plan,” it said, adding that the completion of the SPA is subject to “customary closing conditions”.

Aminex, an oil and gas operator with a balanced portfolio in East Africa, plans to continue the development of the Ntorya discovery in a drive towards near term production in the Ruvuma PSA while maximising value in Kiliwani North Development, ARA said on its website.

“ARA Petroleum looks forward to its involvement in the ongoing work programmes and adding technical and commercial value as the Cornerstone investor,” said ARA Petroleum in a web post.

“In the medium- to long-term, ARA plans to have 50 per cent of its portfolio in Oman and 50 per cent international while maintaining its commitment to being a significant employer of technical experts in Oman, with significant growth in both business segments expected in the near-term,” the company said.