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Oman’s upstream sector is building momentum as foreign firms upscale development plans. US independent Occidental (Oxy) is especially optimistic and has consolidated its position as the second largest operator behind state-firm PDO. Meanwhile the Sultanate is eying new offshore production in 2019.
The firm this week announced that it has secured two exploration blocks – 65 & 51 – in Oman’s 2017 bid round, and also picked up the newly created Block 72. All are contiguous with its existing assets.
Oxy already operates 90,000 b/d Block 9, as well as the 120,000 b/d Block 53 in the country’s south. It also has three exploration blocks (9, 27, 30), and sees Oman as vital to maintaining its Mena portfolio given its looming Qatar exit ( MEES, 9 November ). (CONTINUED - 708 WORDS)