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Results of Oman’s latest oil and gas bid round concluded in November, should be ready by the end of next month, MEES learns, with at least one block award already lined up. This comes as part of the sultanate’s renewed upstream exploration drive which led to three separate bid rounds since early 2012.
The sultanate in July invited bids from local and international oil and gas companies for licenses to explore for hydrocarbons in five blocks on a production sharing basis – two offshore (18, 59) and three onshore (43A, 54, 58). But with this coinciding with the near 60% slide in oil prices since mid-2014, interest in the acreage has not been as high as first expected – particularly in the offshore blocks. (CONTINUED - 632 WORDS)