Oman has launched a new bid round, offering five oil and gas exploration concession areas to investors. The application period opened on 12 April and will close on 30 September.

Offered Concession Areas

The five blocks are distributed across diverse geographical regions with significant geological potential. They are:

• Block 12: Located in the Greater Barik Area in central Oman, covering 5,050 square kilometres.
• Block 16: Also in the Greater Barik Area, covering 4,496 square kilometres.
• Block 55: Situated in the Eastern Flank province, spanning 7,564 square kilometres.
• Block 42: Located in the Sharqiyah Sands basin and surrounding areas, covering 30,682 square kilometres.
• Block 45: Also in the Sharqiyah Sands basin region, covering 5,483 square kilometres.

Strategic Objectives and Application Process

The bid round is part of Oman's strategy to optimize the use of its natural resources and support economic growth, aligning with the goals of Oman Vision 2040. The application process involves multiple stages: reviewing opportunities, registering, submitting required documents, obtaining technical data, and finally submitting proposals via a designated platform before the deadline.

Context of Previous Offering

This latest round follows a 2023 offering of three exploration blocks (15, 36, and 54), where several companies had conducted seismic surveys and drilled wells.