Oman’s Ministry of Energy and Minerals (MEM) announced on 24 June that it had awarded offshore Block 80 to state energy firms OQ Exploration and Production (OQEP) and Turkish Petroleum Overseas Company (TPOC). Both firms hold 50% in the block, and OQEP will act as operator.
Block 80 lies offshore Oman’s northern exclave of Musandam inside the Strait of Hormuz. The acreage includes the Bukha and West Bukha fields, which together produce around 1,000 b/d of condensate and 8mn cfd of gas. Previous concession maps showed the fields as a separate Block 8 concession, but the latest announcement implies they have now been incorporated into Block 80. The partners signed a separate gas sales agreement with state gas offtaker Integrated Gas Company (IGC) covering production from the concession. (CONTINUED - 280 WORDS)