Oman invites bids for oil and gas exploration in 3 blocks

Oman has invited investors to bid to explore for oil and gas in three concession areas, the energy ministry said today, as it seeks help to monetise its energy assets, Reuters reports.

The three onshore concessions are Block 43A, Block 66 and Block 36, the ministry said on its X account.

Oman – a small non-OPEC oil producer – is seeking to diversify its economy and cut its debt. It has been pushing forward with a privatisation drive to attract foreign investors.

Interested investors in the blocks must sign a confidentiality agreement to receive timings for the process and technical data.

Two investment bankers from Scotiabank are listed as points of contact for potential investors.

“Numerous discoveries in adjacent areas indicate a working petroleum system” around Block 43A, which covers 6,920 sq km, the ministry said. It borders producing areas of the United Arab Emirates.

Block 66 covers 4,898 sq km and is located on the eastern flank of the Rub’ Al-Khali (Empty Quarter) Basin, according to the ministry.

Block 36 is the largest of the three at 18,557 sq km and is located in the Ghudun Basin, part of the broader Rub’ Al-Khali region, according to the ministry.

Block 66 is also near producing fields and Block 36 has a proven petroleum system, the ministry said.

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