Petrogas E&P LLC had its first international success in 2006. The company has been awarded 3 exploration blocks (2 offshore and one onshore) in India under NELP-VI as part of a consortium of GAIL India Ltd (GAIL), Gujarat State Petroleum Corporation (GSPC), Indian Oil Corporation Limited (IOC) and Hindustan Petroleum Corporation Ltd (HPCL). The two offshore blocks are located in the Mumbai Basin and the onshore block is in the Krishna Godavri basin. The committed work programme and expenditure will include 3D seismic and the drilling of 11 Exploration wells to be completed by end 2010 with the possibility of a 2 years extension.
 

On March 2nd, 2007, Mohammed Al Barwani, Chairman of MB Holding, signed at a ceremony in New Dehli three Exploration and Production Sharing contracts. After signing, he said: ”This is a major milestone for Petrogas E&P after having built up and consolidated our E&P company in Oman, it was natural for us to go overseas. We are delighted that our first foray outside Oman is in India, which provides a regulatory environment that gives the comfort to invest and do business. We also look forward and feel proud to work with partners that are highly considered in India and internationally.”

Petrogas Chief Executive Jean-Denis Bouvier said the company will operate the offshore Block, MB-OSB-2004/ 2 with a 20% interest. The MB-OSB-2004/ 2 is oil-prone and lies on the eastern edge of the Mumbai Basin. It extends over an area of 741 square kilometres in water depths ranging from 30 to 60 metres. “Prospects have been mapped with potential reserves of 30 to 100 million barrels.” Jean-Denis Bouvier commented.

At the same time, Petrogas has picked up a 20% participating stake