US independent EOG Resources is quitting Oman just 18 months after its entry, dealing a blow to Oman’s aspirations of unlocking new reserves from its complex geology. Discoveries were made at the two blocks where EOG was working, but they weren’t sufficiently attractive for the US firm to pursue.
EOG entered Oman in September 2020 when it picked up a 100% operating stake in Block 36 in the far south-west of the sultanate (MEES, 25 September 2020). It followed that up in November 2020 with a 50% stake in the neighboring Block 49 (see map), which is operated by Swedish firm Tethys Oil (MEES, 13 November 2020). (CONTINUED - 678 WORDS)