Oman’s upstream sector is largely dominated by state-owned firms and large international oil companies. But there’s still a role for smaller firms, with a number of key assets being developed by small- and mid-level producers who have played an important role in the country’s oil and gas development.
Sweden’s Tethys Oil has been one such player, entering Oman in 2006 and a year later taking a 30% stake in Blocks 3&4 (CCED 50%op, Mitsui E&P 20%). This remains its only producing asset, but with output declining, the firm has acquired a number of Omani exploration assets in a bid to establish a second production base and eventually boost its revenues. (CONTINUED - 854 WORDS)
