Ministry of Oil Signs Strategic Contract to Develop Bin Umar and Sindbad Fields

The Ministry of Oil announced the signing of an integrated management contract to develop the "Bin Umar" and "Sindbad" oil fields in collaboration with a major American energy company, in implementation of the ministry's strategy aimed at increasing oil and gas production capacities. The five-year contract targets raising crude oil production in the Bin Umar field to 150,000 barrels per day, in addition to producing 300 million standard cubic feet per day of associated gas. During the signing ceremony, the Minister of Oil emphasized that the ministry continues to conclude strategic contracts with major international companies to bolster the energy sector, stressing the provision of all forms of support to overcome obstacles and ensure the realization of the intended goals of these contracts.