Last Updated: Tue Aug 28, 2012 14:12 pm (KSA) 11:12 am (GMT)

Oman invites foreign firms to bid for six oil blocks

According to official statistics, Oman currently produces an average 902,000 bpd of oil. (AP)
According to official statistics, Oman currently produces an average 902,000 bpd of oil. (AP)

Oman has invited foreign oil companies to bid for exploration and development rights in six oil blocks around the country, the oil ministry said on Tuesday, as it pushes to raise production to 1 million barrels per day.

“Two blocks will be awarded next month and the other four will be evaluated in the coming months,” a ministry of oil and gas official told Reuters, declining to be named under briefing rules.

The total area of the blocks being awarded is around 12,000 square kilometers, the official added, declining to reveal the names of the firms bidding.

According to official statistics, Oman currently produces an average 902,000 bpd of oil. Its oil and gas minister Mohammad bin Hamad al-Rumhy said last year that the non-OPEC producer was aiming for production of 1 million bpd in the next three years.

Twenty-five international firms are currently exploring for oil and gas in the sultanate under exploration and production-sharing agreements.

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