Oman unveils offshore block for investment
Published: 02:09 PM,Sep 30,2024 | EDITED : 06:09 PM,Sep 30,2024
MUSCAT, SEPT 30
The Ministry of Energy and Minerals has announced the launch of a new package of oil and gas concession blocks.
The announcement came during the opening of the American Association of Petroleum Geologists (AAPG) International Conference, hosted by Petroleum Development Oman (PDO) at the Oman Convention and Exhibition Centre, on Monday, September 30, 2024.
During the conference, Mohsin bin Hamad al Hadhrami, Under-Secretary of the Ministry of Energy and Minerals, announced that the ministry has adopted a new approach to investment in the oil and gas sector.
He noted that this step is part of ongoing efforts to attract foreign investments and strengthen partnerships with the national operator, OQ Exploration and Production. The new approach aims to efficiently and innovatively develop and exploit Oman’s energy resources.
Al Hadhrami explained that the new package includes several concession areas, distributed between offshore and onshore regions, including Block 18.
This area contains largely untapped hydrocarbon resources, providing significant opportunities for exploration and development in both conventional and unconventional resources.
Block 18 is located in the southern Sea of Oman, covering an area of approximately 21,140 square kilometres, making it one of the largest offshore concession blocks in Oman.
He emphasised that this new approach enhances investment opportunities and contributes to achieving sustainable development in the energy sector, in line with the strategic objectives of the Sultanate of Oman.
He noted that the new measures include the implementation of a contractual system based on concession fees, along with the allowance for integrated gas exploitation projects, increasing the attractiveness of these areas for investment.
Block 18 is located in the southern Sea of Oman, covering an area of approximately 21,140 square kilometres, making it one of the largest offshore concession blocks in Oman.
The Ministry of Energy and Minerals has announced the launch of a new package of oil and gas concession blocks.
The announcement came during the opening of the American Association of Petroleum Geologists (AAPG) International Conference, hosted by Petroleum Development Oman (PDO) at the Oman Convention and Exhibition Centre, on Monday, September 30, 2024.
During the conference, Mohsin bin Hamad al Hadhrami, Under-Secretary of the Ministry of Energy and Minerals, announced that the ministry has adopted a new approach to investment in the oil and gas sector.
He noted that this step is part of ongoing efforts to attract foreign investments and strengthen partnerships with the national operator, OQ Exploration and Production. The new approach aims to efficiently and innovatively develop and exploit Oman’s energy resources.
Al Hadhrami explained that the new package includes several concession areas, distributed between offshore and onshore regions, including Block 18.
This area contains largely untapped hydrocarbon resources, providing significant opportunities for exploration and development in both conventional and unconventional resources.
Block 18 is located in the southern Sea of Oman, covering an area of approximately 21,140 square kilometres, making it one of the largest offshore concession blocks in Oman.
He emphasised that this new approach enhances investment opportunities and contributes to achieving sustainable development in the energy sector, in line with the strategic objectives of the Sultanate of Oman.
He noted that the new measures include the implementation of a contractual system based on concession fees, along with the allowance for integrated gas exploitation projects, increasing the attractiveness of these areas for investment.
Block 18 is located in the southern Sea of Oman, covering an area of approximately 21,140 square kilometres, making it one of the largest offshore concession blocks in Oman.