The Sultanate of Oman has signed three petroleum concession agreements with OQ Exploration and Production committing the state-owned company to exploration programmes valued at a minimum of $56 million. The agreements are intended to expand hydrocarbon exploration, develop oil and gas reserves and support the sustainability of production and energy supplies. They were signed by Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, on behalf of the government, and Eng Mahmoud bin Abdullah al Hashmi, Chief Executive Officer of OQ Exploration and Production, on behalf of the company. OQEP will hold a 100-per-cent interest in the three concession areas and assume full responsibility for their operation and management. The agreements provide for an initial three-year exploration period that can be extended for another three years. If commercial discoveries are declared, production concessions could be granted for up to 25 years.