Oman launches six concession areas for oil and gas investment

Muscat: The Ministry of Oil & Gas has announced that six concession areas are available for investment in 2019 as part of a successful program to enhance oil output to meet increasing domestic demand, which continues to attract foreign investment and partnerships. Block 58, Block 70, Block 73, Block 74, Block 75 and Block 76  are the six blocks to be tendered during the licensing round, which will continue until May 30, 2019. 'These blocks were previously part of the prolific Block 6 currently operated by PDO (650 MBOPD), who were obliged to relinquish these blocks due to statutory license rules. 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, from the Precambrian through the Cretaceous,' the ministry said.