Oxy Proceeds With Oman Asset Sale

State-owned Oman Oil Company (OOC) plans to buy a share of Occidental Petroleum’s (Oxy) Oman assets, as the US independent’s planned partial divestment of its Middle East assets moves forward. “We are now in negotiations with Occidental to buy their assets here in the sultanate,” OOC CEO ‘Isam al-Zadjali, told reporters on the sidelines of the Oman Energy Forum in Muscat this week. “Now we are waiting for them to specify what exactly they want from this deal. We are ready to buy the assets.”

Oxy produced about 67,000 b/d of oil and 45mn cfd of gas from its assets in Oman during the third quarter. (CONTINUED - 372 WORDS)