Oman invites bids for oil, gas exploration in three blocks

Oman is seeking investors for oil and gas exploration in three onshore concession areas: Blocks 36, 43A, and 66, as part of its strategy to monetize energy assets and diversify its economy. The Ministry of Energy emphasizes that potential investors must sign a confidentiality agreement to obtain detailed information about the bidding process. The blocks are located in geological regions with significant hydrocarbon potential, with Block 36 being the largest at 18,557 sq km. This initiative is aligned with Oman's broader privatization efforts to attract foreign investment, which currently accounts for a substantial share of the country's foreign direct investment (FDI). The bidding process is being conducted in collaboration with OQ Exploration and Production Company and Scotiabank, which are key points of contact for interested parties. The Ministry has noted the potential indicated by discoveries in neighboring areas, suggesting a favorable environment for exploration.