Musandam taking charge of offshore Oman block

DNO has relinquished operatorship and participation in Oman’s offshore block 8 to the country’s Ministry of Oil and Gas (MOG) and state-owned Oman Oil Company Exploration and Production (OOCEP).

The concession, containing the Bukha and West Bukha fields, has produced 35 MMbbl of oil and 285 bcf of gas to date, generating the Sultanate of Oman around US$1 billion in revenues, DNO said.

Last year output from the two fields averaged 4,458 boe/d. DNO and LG International each had a 50% interest in the license.

Following tomorrow’s expiry of the 30-year commercial term of the exploration and production-sharing agreement, Musandam Oil and Gas Company, owned by OOCEP, will take over as operator.

Source: Offshore Magazine