Oil & Gas Oman seeks exploration bids for new oil field By Pramod Kumar May 23, 2025, 10:10 AM PDO The site of the new exploration block is also home to the Fahud field, Oman's oldest, which was discovered in 1964 State-run Petroleum Development Oman (PDO) is seeking bids for a new oil exploration block in the north of the country. The 130 sq km block 6, located in the Ghaba basin, has estimated reserves of more than one billion barrels of crude, the company said in a post on social messaging platform X. The final date for submitting an expression of interest in the block for appraisal and development is June 5, the post said. Oman is not part of Opec, but is included in the wider Opec+ group. It has a 775,000 barrels per day (bpd) quota starting in June. In January, it pumped about 990,000 bpd of oil and condensate, a light crude, according to official statistics. Oman is launching oil and gas licensing rounds and is awarding concession agreements in a bid to increase fossil fuel production. Oil output increase of 30% sought in Oman block offer Occidental to invest $30bn in extended Oman concession Oman’s Abraj gets $36m BP gas drilling contract The Ghaba Basin is also home to the Fahud field, Oman’s oldest, which was discovered in 1964. Earlier this month Sultan Al-Habsi, the minister of finance, said Oman posted a budget surplus of $1.4 billion last year as it sold oil at an average price of $82 per barrel, a third higher than the forecast of $60 per barrel on which the 2024 budget was based. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
