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Oman likely to award 4 oil blocks in Q2 2018

MUSCAT, October 31, 2017

Oman is likely to award four oil and gas blocks to international oil companies on a production sharing basis in the second quarter of 2018, a senior government official was quoted as saying in a media report.

The bidding round for blocks 43B, 47, 51 and 65 started in September, the Times of Oman report said, noting that while 51 is an offshore block, all others are onshore blocks.

Out of the four blocks, three blocks have crude oil deposits, while the fourth one is mainly a gas block, the report said.

The deadline for submitting bids is December 31, it added.

“The response is very good since the oil price is attractive now,” said Dr Saleh A Al Anboori, director general of Management of Petroleum Investment at the Ministry of Oil and Gas.

He said the evaluation of bids will be conducted for three to four months, after the companies submit their bids.
 




Tags: | Oman | bids | Oil blocks |

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