Petrogas E&P LLC, the Oil and Gas Exploration & Production (E&P) arm of MB Holding Company was established in January 1999 and is fully owned by MB Holding.

Petrogas is a limited liability company registered and incorporated in the Sultanate of Oman and is presently the only private E&P company actively engaged in acquiring, operating and managing oil and gas reserves in Oman.

In 1999, Petrogas acquired Block 7 (Butabul) Oil and Gas concession in Oman from Elf Petroleum and Block 5 (Wadi Aswad) oil and gas concession from Japex. Subsequently Petrogas sold its 50% rights in Block 5 to China National Petroleum Corporation (CNPC). Petrogas operated Block 7 on its own, and Daleel Petroleum Company, a joint venture of Petrogas and CNPC, operates Block 5. At the time of acquisition, Daleel oilfield had 115 million barrels of proven and possible oil reserves.

Petrogas and CNPC have jointly invested over US$220 million in production enhancement projects with an aim to improve oil production from 5,000 bpd to 35,000 bpd in their concessions.

In 2007 Petrogas bagged three (3) exploration oil & gas blocks in India and acquired 30% stakes in area A, Eastern desert, Egypt. In 2008 Petrogas awarded operations of small fields in Oman.

Petrogas now looks forward to further acquisition of new oil and gas concessions with potential for exploration and development to achieve its target of 100,000 bpd.

For more information, visit www.petrogasllc.com