PetroTel Energy is an exploration and production company headquartered in Plano, Texas, USA that manages multiple portfolio companies operating oil and gas blocks in Oman: PetroTel Oman LLC (PTO) operates Block 17 and PetroTel Oman Offshore LLC (PTOO) operates Block 40 in Musandam, Oman. PTO has drilled three wells successfully with multiple discoveries on the block. The oil gravity is between 43-45 API and PTO plans to commence oil production and develop its significant reserve and resource base in the near term. Musandam Processing Plant is only 3 km from PTO operations with export terminal for oil tankers. Block 40 contains excellent prospects with extensive seismic coverage with direct hydrocarbon indicators: flat spots, bright spots, gas chimneys, and AVO. PTOO plans to drill wells on these prospects with seismic direct hydrocarbon indicators. Currently, both PTO and PTOO have rigs on contract operating in Musandam. Block 17 and Block 40 are contiguous with total area of 2.1 million acres that includes some of the most exciting plays in hydrocarbon exploration and production. Block 17 is mostly onshore and Block 40 is mostly offshore with shallow waters (<70 m). Both PTO and PTOO have exploration and production sharing agreement with the Government of Oman ratified by royal decrees. PetroTel Energy has world class management team with proven track record of developing and monetizing oil and gas projects around the world.
The management team has world class expertise in exploration, reservoir management, drilling, completions, and facility development working in the most prolific oil and gas basins in the world. The team has made five major oil and gas discoveries, worked on over 300 fields worldwide, and prepared over 40 field development plans.