UK’s Kistos enters Oman with $148-million acquisition, eyeing MENA expansion

MUSCAT, December 9, 2025 – UK independent Kistos has agreed to acquire stakes in two blocks onshore Oman for USD 148 million, marking its entry into the MENA region and expanding its production footprint, the company said on Tuesday.

The deal includes a 5% interest in Block 9 and a 20% interest in Blocks 3 and 4, acquired from Mitsui E&P Middle East. It is expected to be immediately cash-generative and will be funded with existing cash. The assets are forecast to add 25.6 million boe in 2P reserves and approximately 9,000-10,000 boepd of production in 2025, of which 91% is liquids.

Block 9 is operated by Occidental Petroleum and includes two producing areas. Blocks 3 and 4 are operated by CCED and include seven producing fields across 29,000 kilometres in eastern Oman. Both areas are governed by Oman’s Exploration and Production Sharing Agreements.

Kistos said the move complements its North Sea portfolio and boosts its estimated reserves to 50 million boe. Regulatory approvals and partner consents are pending.

“This acquisition marks a significant milestone for Kistos as we expand our footprint into a new and strategically important region,” executive chairman Andrew Austin said.

Kistos is a UK-based independent energy company focused on upstream and midstream markets, with core operations in the North Sea. Its strategy centres on acquiring producing assets with development potential to build a resilient, cash-generative portfolio.

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