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US mini-major Occidental is doubling down on its Oman presence in a bid to offset the looming loss of its core Qatar oil field in October 2019 ( MEES, 19 October ).
Oxy recorded a $196mn Q3 impairment due to Qatar Petroleum’s decision to take over operatorship of the 95,000 b/d Idd el-Shargi North Dome (ISND) field. But, while its Middle East portfolio is about to lose more than a third of its liquids output, the firm is looking to Oman to keep Oxy as a major Mideast player.
In its Q3 results, Oxy announced that it had been awarded three new blocks in Oman, taking its total footprint in the sultanate to eight blocks ( MEES, 9 November ). (CONTINUED - 765 WORDS)
DATA INSIDE THIS ARTICLE
|table||Occidental MENA Crude Output (‘000 B/D)|
|table||Occidental MENA Gas Output (Mn Cfd)|