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Dr Mohammed bin Hamed al Rumhy, Minister of Oil and Gas, signed the production sharing and joint operation agreements with the consortium partners - Occidental Mukhaizna, Shell Oman Trading Company, Liwa Energy (a subsidiary of Abu Dhabi-based Mubadala Development Company), Total E&P Oman, Partex (Oman) Corporation, and the state-owned Oman Oil Company (OOC).
The government of Oman will be entitled to 80 per cent of the revenue proceeds while the consortium members will share the remaining 20 per cent.
Production at Mukhaizna has so far been limited owing to heavy viscous crude and high operational costs. Thermal enhanced oil recovery (EOR) techniques will be deployed to extract one billion barrels of heavy crude from the field, which was discovered in 1975.
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