Oman’s Offshore Hopes Take Hit With Total Exit

Oman’s efforts to boost the profile of its offshore acreage have taken a hit this week, after the Ministry of Oil and Gas (MOG) revealed that France’s Total has handed its 100% stake in Block 41 back to the government, just 15 months after being awarded the concession.

Total decided to exit the block after preliminary studies failed to discover what it considered to be attractive prospects, MOG undersecretary Salim al-‘Oufi said on 13 April, at the ministry’s annual media briefing.

“Yes, Total have returned Block 41 – [they were] not successful in their exploration activities,” Mr ‘Oufi said. “They took it for a year to study, and following that there was a program. But initial studies did not indicate a lot of promising results for them. So they opted out at an early stage.” (CONTINUED - 512 WORDS)