Post by Kistos

Kistos has entered into a binding agreement to acquire interests in Blocks 3, 4 & 9 onshore Oman from Mitsui E&P Middle East B.V.   The transaction is expected to:   🛢️ Add 25.6 mmboe (operator’s estimates) of 2P reserves (as at 1 January 2025) ⚙️ Have an additional estimated production of approximately 9,000-10,000 boepd net to Kistos in 2025 🧮 Equate to a valuation of approximately $5.80/boe and be immediately cash generative   Representing an evolution in the Kistos’ M&A strategy and opening it up to a new region, the company’s entry into Oman aligns with the Board's core ambition of pursuing assets that have strong near-term production with significant development and exploration upside.   For more information, read this morning’s announcement: https://lnkd.in/epY6DCJd   #Energy #OilandGas #MENA #Kistos