ABU DHABI — Oman has completed preparations to launch a tender for
oil exploration projects.
Omani Energy Minister Mohammed Bin Hamad Bin Seif Al Romhy said the
sultanate would send invitations to major contractors to bid for the
development of oil reserves.
Al Rohmy said five onshore and offshore oil
blocks would be developed on a production-sharing basis.
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"We will invite companies to develop two offshore and three onshore
blocks," Al Romhy said. "Hopefully, concession agreements for more than one
block will be concluded before the year end."
Oman has sought to increase its crude oil output to 790,000 barrels per
day during 2008. The oil blocks designated for development were said to be
located between Musandam in the north and Salalah in the south.
