Oman is in advanced talks with a number of international oil companies for the award of five blocks (39, 51, 54, 55 and 67) offered by the Ministry of Oil and Gas (MOG) over the past 24 months, MEES understands. These awards come as the country is shifting its focus to smaller more challenging fields that it hopes could hold the key to offsetting the decline in output from its more mature fields.

“Last year there was a bid round for four blocks – 51, 54, 55 and 58,” Oman’s Minister of Oil and Gas Muhammad al-Rumhy said at an industry conference in Muscat on 3 March. “[For Blocks] 54 and 55, we are in the final stages of the award. Block 51 is also moving positively toward the award,” he continued. (CONTINUED - 680 WORDS)