Oman Close to Awarding Six Oil, Gas Blocks

Oman is in final negotiation phase with several foreign energy firms bidding for six onshore oil and gas blocks, Oman Daily Observer said citing a senior official.

Saleh al Anboori, Director-General of Petroleum Investments, said Exploration & Production Sharing Agreements (EPSAs) for the six blocks in question are likely to be signed before the end of this year.

Bids for a further seven blocks — three offshore and four onshore — are presently under evaluation, while an eighth block is still open. Together, they account for a total of 14 hydrocarbon blocks that are open for investment, the official stated, Oman Daily Observer reported.

Around 12 companies are currently exploring for oil and gas in 19 blocks encompassing an aggregate acreage of over 211,000 sq km. As many as eight companies are producing oil and gas from 11 blocks.

Talking about the commercial development of tight gas reserves within BP’s Khazzan-Makarem field in Block 61, Anboori said an agreement will be based on a mutual, win-win situation, the newspaper added.