United States Energy Major PetroTel has revealed that it has clinched a three-year exploration and production sharing agreement with the Sultanate of Oman.

Under the pact, the Texas-based company will be developing Block 17 in the north of the state.

This is the fourth arrangement which the non-Opec producer has inked with foreign companies in order to develop and explore for oil and gas as it seeks to boost production.

Other conglomerates that have signed production-agreements this fiscal include Canada's Epsilon Energy and Malaysia's Petronas..

(via TopNews Arab Emirates. Contributed by Akilah Amiri)