Oman is a modest oil producer by Middle East standards with output of just under 1mn b/d. Its claim to fame as the largest non-Opec producer in the Middle East was brought to an end when Qatar quit Opec effective January 2019. However, recent gas developments have caught the eye of international majors, who have significantly increased their presence in the sultanate in recent years.
The latest deal was finalized on 19 February in Muscat as Total (80%) and Thailand’s PTTEP (20%) signed an exploration and production sharing agreement (EPSA) to develop non-associated gas at Block 12 in central Oman. Block 12 is 9,546 km² and overlays part of the massive Block 6, which is operated by state-led PDO (Oman 60%; Shell 34%, Total 4%, and Partex 2%). (CONTINUED - 703 WORDS)
