Oxy Leads Renewed Omani Exploration Push

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)