Majors Shell and TotalEnergies have signed an exploration and production-sharing agreement for block 11
Oman’s upstream aims to rock like its peers
Don’t call it a comeback, newly gas-focused majors have been here for years
Oman has largely missed out on the upstream capex boom underway in neighbouring Abu Dhabi and Saudi Arabia. Muscat’s focus—perhaps prudently given the relative paucity and high cost of the oil reserves on which its budget depends—has been on preparing for the day its reserves either run out or are no longer commercially viable. But while not towering over its regional competition, the sector is just getting warmer. In mid-September, majors Shell and TotalEnergies signed an exploration and production-sharing agreement for block 11, neighbour to their existing joint venture in block 10 in the central Al-Wusta governorate. In the latter, the majors were committing with the certainty of being ab
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
