Oman Invites Offshore O&G Bids on Three Blocks

The energy ministry announced on Tuesday that Oman had invited investors to bid for exploration of oil and gas within three concessions areas. It is seeking help to monetize the country's energy assets.

The ministry announced on its X Twitter account that the three concessions onshore are Block 43A (Block 66), Block 36 (Block 36) and Block 43A (Block 43A).

Oman, a non-OPEC small oil producer, is trying to diversify and reduce its debt. The country has been pursuing a privatisation campaign to attract foreign investors.

Investors interested in blocks are required to sign a confidentiality contract before they can receive the timings and technical data.

The list of contacts for potential investors includes two investment bankers at Scotiabank.

The ministry stated that "numerous discoveries in adjacent areas show a working petroleum network" around Block 43A which covers 6,920 square kilometers. The block borders the United Arab Emirates' producing areas.

According to the Ministry, Block 66 is 4,898 square kilometers and located on the eastern side of the Rub al-Khali basin.

According to the Ministry, Block 36, with an area of 18,557 square kilometers, is located in Ghudun basin, which is part of the Rub' al Khali region.

The ministry stated that Block 66 was also located near fields producing oil and Block 36 had a proven petroleum-system.

(Reuters)