Oxy is pressing ahead with development of its newly streamlined Mideast portfolio, targeting first output from its new Oman assets in 2021 followed by Abu Dhabi in 2022.
A renewed focus on Oman and Abu Dhabi has revitalized the Middle East portfolio of US independent Occidental (Oxy). Having trimmed the fat from 2013-17, the US firm has embarked on a tightly focused expansion drive, with its most recent acquisition being an onshore exploration block in Abu Dhabi that it secured last week (MEES, 8 February).
Oxy now has a swathe of contiguous assets stretching across northern Oman that reaches to within around 60km of its new Abu Dhabi asset – Onshore 3 (see map). The firm’s leadership expects to capitalize on its “best in class” regional geological knowledge.
Oxy’s tightly focused regional presence is set to grow even more geographically concise this year. Having ditched its Libya, Bahrain,...