Monday, 16 Dec 2019 | 19 Rabi Al Thani 1441
Oman offers 6 oil blocks in 2019 licensing round

Oman gives six oil blocks in 2019 licensing round

The ministry announced the launch of new blocks for investment in oil and gas sector in a tweet.

As per the announcement, blocks 58, 70, 73, 74, 75 and 76 will be tendered in the course of 2019 licensing round. The 2019 licensing bid round, which began on Sunday, will finish on May 30.

‘Oman has put into place a successful programme to enhance oil output in order to meet increasing domestic demand, which continues to attract foreign investment and partnerships. Accordingly, the Ministry of Oil and Gas will launch the tenders for six blocks in the upcoming licensing bid round 2019’, the ministry stated in its announcement.

It stated these blocks had been previously element of the prolific Block six presently operated by PDO, which was obliged to relinquish these blocks due to statutory license guidelines. ‘All blocks are aligned along known play trends and structures are mapped in each. Together these blocks offer potential across the complete producing section within Oman’, the ministry stated.

In December final year, Dr Saleh bin Ali al Anboori, director common of preparing and research at the Ministry of Oil and Gas, had stated that the sultanate will present six concession blocks to the private players in the initial quarter of 2019.

Anboori had stated that all these six blocks, which are positioned in the vicinity of current production locations, will be covered beneath the regular exploration and production sharing agreements.

Information Source: Muscat Daily

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