Oman upstream summary Report

Country Report 05 February 2024

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Report summary

Oman is the largest non-OPEC oil producer in the Middle East and has a diverse upstream industry featuring a range of international oil companies (IOCs) and local companies. It offers potentially rewarding opportunities for investors and is keen to attract new experienced operators. Block 6, operated by Petroleum Development Oman (PDO), accounts for the majority of Oman's production - both oil and gas - and is the largest onshore licence. PDO and Oman is internationally recognised for its expertise in EOR developments, partly due to the complex geology in the country. Recent efforts in the country have seen major investment in Oman's domestic gas projects. The Khazzan project came onstream in 2017 and is now a major gas producer.

Executive summary
Key facts
Location maps
Key companies
Geology
- Introduction
- Regional Tectonic Framework
- Major Petroleum Plays
  - Huqf Group
  - Haima Group
  - Haushi Group
  - Khuff Formation
  - Shuaiba Formation
  - Natih Formation
- Source Rocks and Petroleum Type
Exploration
- Licensing
- Licensing summary
  - Licensing rounds
  - Ah-hoc licensing
  - Historical licensing
- Licensed exploration blocks
  - Block 11- Shell
  - Block 12 - TotalEnergies
  - Block 17 - PetroTel
  - Block 30 - Occidental Petroleum
  - Block 31 - ARA Petroleum
  - Block 38 - CCED
  - Block 39 - PetroTel
  - Block 42 - Shell
  - Block 47 - Eni
  - Block 48 - OQ
  - Block 49 - Tethys Oil
  - Block 51 - Occidental Petroleum
  - Block 52 - Eni
  - Block 55 - Shell
  - Block 56 - Tethys Oil
  - Block 57 - Petroleb
  - Block 58 - Tethys Oil
  - Block 65 - Occidental Petroleum
  - Block 67 - PetroTel
  - Block 70 - Mafraq Energy
  - Block 71 - Majan Energy
  - Block 72 - Occidental Petroleum
  - Block 74 - CCED
  - Block 77 - Eni
  - Block 15
  - Block 18
  - Blocks 21, 22 and 23
  - Block 36
  - Block 40
  - Block 41
  - Block 43A
  - Block 43B
  - Block 54
  - Block 62 (Oil)
  - Block 66
  - Block 73
  - Block 75
  - Block 76
- Drilling
  - Drilling activity
  - Success rates
Reserves and resources
- Oil
- Gas
Production
- Oil/Liquids
  - Production outlook
  - Recent production
  - Historical production
- Gas
  - Recent production and outlook
  - Historical production
Infrastructure
- Introduction
- Oil infrastructure
  - Oil pipelines
- Oil storage and terminals
- Oil Refineries
  - Mina Al Fahal refinery
  - Sohar refinery
  - Duqm refinery (OQ8)
- Gas infrastructure
  - Gas pipelines
  - LNG terminals
  - Gas Processing Plants
Costs
- Introduction
- Capital costs
  - Capital expenditure by location
  - Oil
  - Gas
- Operating costs
  - Operating expenditure by location
Policy and regulation
- Key legislation
- Regulatory body
- State oil company
  - OQ (formerly Oman Oil Company)
  - OQ Gas Networks (formerly Oman Gas Company)
- State participation
- Licensing
Fiscal terms
- Overview
  - Upstream
  - Mid/Downstream
  - Gas Utilisation
- Current fiscal terms
- PDO concession
- Petroleum Agreement / Exploration & Production Sharing Agreement (EPSA)
  - State equity participation
  - Bonuses, rentals and fees
  - Training fees
  - Royalty and other production taxes
  - Contractor revenue entitlement
  - Liquids pricing
  - Natural gas pricing
  - Cost recovery
  - Profit sharing
  - Corporate (or Petroleum) income tax
  - Fiscal/Contractual ring-fences
  - Sample cash flow
- Historical background
  - Pre-1980
  - 1980s
  - 1990s to present