Companies Still Cool On Oman’s Offshore

Despite its best efforts, drumming up interest in Oman’s offshore acreage is proving more difficult than first envisaged for the Ministry of Oil and Gas (MOG), as two offshore concessions – on offer for the second time in less than 24 months – have again failed to garner much interest from oil companies interested in Oman.

The concessions – Blocks 18 and 59 – were retendered in early August along with three onshore concessions as part of Oman’s efforts to make new discoveries and secure its mid- to long-term oil and gas production future. Oman’s hydrocarbons sector accounted for around 50% of its nominal GDP in 2013, according to latest official figures. (CONTINUED - 334 WORDS)