Oman puts up three oil and gas blocks on offer

MUSCAT, March 27, 2023 – Oman has invited investors to bid on three local oil and gas blocks in its latest oil and gas licensing round, the Ministry of Energy and Minerals announced on Sunday.

The 2023 licensing round includes blocks 15, 36 and 54, which are available for bidding by local and international investors between March 26 and June 25, 2023.

Block 15 is located 25 kilometres southwest of Ibri and is said to hold predominantly tight gas. Four exploration wells and one appraisal well were drilled on the concession before 2017, which confirmed the existence of hydrocarbons.

The 18,600-square-kilometre Block 36 is located on the border with Saudi Arabia and Yemen on the Eastern Rub al Khali basin. Eight wells have been drilled on the licence area. 2D seismic studies of around 15,000 square kilometres have been done on the block.

Block 54 is located in the Eastern Flank province and covers an area of 5,600 square kilometres. Nine exploration wells have been drilled on the asset.

A second annual licensing round is planned in Q2 2023, which will focus on offshore blocks.

Read our latest insights on: