New concession area bids for oil and gas exploration
January 8, 2018 | 9:04 PM
by ONA
Eng. Salim bin Nasser Al Oufi, Undersecretary of the Ministry. -ONA

Muscat: Bids for the new concession areas for oil and gas exploration, which were floated last year, have been opened and the Ministry of Oil and Gas is continuously following up the relevant developments Eng. Salim bin Nasser Al Oufi, Undersecretary of the Ministry has affirmed.

He was talking after patronising over PDO’s celebration of the Omani Environment Day.

Eng. Al Oufi told reporters that as per the Ministry’s plan, the bids for these areas will be analysed during February 2018 and that initial negotiations will start in March 2018 according the normal course of action. He hoped that the agreements for some concession areas would be signed before the end of this year.

He also affirmed that many companies have expressed desire in exploring these attractive concession areas. He also noted that the agreement that will be signed next Wednesday between the Ministry of Oil and Gas and PetroLeb of Lebanon is part of the Ministry’s plan for 2017.

“The Sultanate will also host the 7th meeting of the Joint Committee of OPEC and Non-OPEC members on 21st January 2018,” Eng. Al Oufi concluded.

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