Oman’s upstream sector has attracted one of the broadest coalitions of oil firms in the Gulf. The likes of BP, TotalEnergies and Shell have all upped their activities in the sultanate in recent years as they seek to tap into rich reserves of tight gas. Mid-size players such as Oxy, Thailand’s PTTEP and state-firm OQ also have substantial holdings, as do smaller firms such as CCED, Medco and Tethys.
One player which often escapes the limelight is Omani independent E&P firm ARA Petroleum which operates three assets in the country. ARA was founded in 2014 by parent company Al Zubair, formally known as Muscat Trading Company. The firm specializes in “underdeveloped operated assets with proven hydrocarbons,” and currently holds interests in Block 31 and Block 44, and the Qarat Milh Small Fields (QSF) license which has been carved out of the giant PDO-operated Block 6. The firm is also looking to expand into Tanzania. (CONTINUED - 943 WORDS)