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Oman is re-offering five blocks in the hope that recent nearby discoveries will reignite interest in acreage that received only lukewarm interest first time around.
Oman has invited bids from local and international oil and gas companies for licenses to explore for hydrocarbons in five blocks on a production sharing basis, as it targets new discoveries in an effort to secure its mid- to long-term oil and gas production future.
The blocks – two offshore and three onshore – have been put on offer to investors, as the sultanate increasingly looks to the private sector to boost its output. Oman’s hydrocarbons sector accounted for around 50% of its nominal GDP in 2013.
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