The Ministry of Energy and Minerals of Oman has offered three new oil and gas concession areas for local and international oil companies as part of the country’s 2023 licensing bid round. The three concessions include Block 15, which contains mostly tight gas and is located some 250 km west of Muscat and 25 km south-west of provincial town of Ibri, Block 36, along the border with Saudi Arabia and Yemen, and Block 54, situated in a lightly drilled area, the Eastern Flank province. The auction will close on 25 June 2023. A second batch of concessions areas, focused on offshore blocks, will be offered by the end of the second quarter of 2023.
Oman’s average daily production of crude oil and condensates rose by around 10% to reach 1.1 mb/d in 2022, according to the country’s National Centre for Statistics and Information (NCSI). Indeed, Oman produced 388.4 mbl of oil and condensate in 2022, including 309.5 mbl of oil in 2022 (+13%) and 78.9 mbl of condensate (-1%).
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