Oman leans towards bilateral awards
The sultanate’s drawn-out bid round is ending in a whimper as breakout gas contracting discussions take priority
Oman’s future licensing rounds are likely to be replaced with direct negotiations unless more enticing acreage is to be carved out of its former block 6 area, after a single award in its most recent bid round. In early July 2020, Sweden’s Tethys Oil was confirmed as the sole winning bidder in its 2019 licensing round. The firm—which is an Omani success story, already holds stakes in blocks three and four (30pc), 49 (100pc) and 56 (20pc) and has previously sought to expand this footprint further—has been awarded block 58, which covers 4,557km2, spanning the western flank of the South Oman Salt Basin and the Western Deformation Front. Launched last February, the bid round covered five previous
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised