Monday 23 / December / 2024
Muscat: The Ministry of Energy and Minerals has denied any agreement to distribute shares between the partners in the joint offshore oil field (West Bukha - Hengam) which is located between the maritime borders of the Sultanate of Oman and the Islamic Republic of Iran.
"The joint offshore oil field (West Bukha - Hengam) is located between the maritime borders of the Sultanate of Oman and the Islamic Republic of Iran, off the Musandam Governorate from the Omani side. The part of the Iranian side is called Hengam and on the Omani side it is called West Bukha in concession area block 8. Production in the West Bukha field of the Sultanate of Oman has started since 1985," the Ministry said in a statement.
With regard to the joint development of the field, and the division of shares between the Sultanate of Oman and the Islamic Republic of Iran, there have been discussions from an earlier period about joint development in which no agreement was reached.
The Ministry of Energy and Minerals confirms that it has not recently participated in any technical discussions or commercial negotiations related to this joint field, thus it denies that there is any agreement to distribute shares between the partners. It confirms that maximising the benefit of this field will be through joint development if it is agreed upon.
