Oman preps new offshore acreage for exploration
Australian seismic data processing specialist Searcher has announced the start of a new phase of seismic data reprocessing covering large swathes of the Sea of Oman in preparation for the award of new offshore acreage for hydrocarbon exploration.
In a statement, the Perth-based firm said the reprocessing efforts are designed to unlock the prospectivity of three massive offshore blocks – 18, 41 and 21 – which are included in Oman's current Oil & Gas Licensing Round.
'Partnering with the Ministry of Energy and Minerals of Oman, we're tapping into cutting-edge tech to uncover even more about the region's geological potential and drive future exploration,' Searcher, a multi-client company specializing in subsurface data, stated in a recent post.
The announcement stems from a strategic partnership forged by the Ministry with Searcher in April 2022 aimed at the acquisition of several new seismic surveys and reprocessing of legacy seismic data both offshore and onshore Oman.
'Building on the success of Phase One in 2023, this next stage marks a significant step forward in unlocking the geological potential off the Quriyat coast. With over 35,000 km and 2,700 square km of seismic data in the Sea of Oman, phase one saw the reprocessing of 4,100 line km of seismic data within Block 18, using a modern PSDM processing workflow and advanced multiple removal techniques,' said Searcher.
'Phase Two expands on these efforts, introducing an additional 5,000 line km of seismic data from Blocks 41 and 21—both included in the current acreage licensing round,' it added.
In recent years, the Ministry of Energy and Minerals has intensified efforts to promote its largely untapped offshore sector for investment. As recently as in September last year, the Ministry announced the launch of a new package of oil and gas concession areas – representing a mix of onshore and offshore blocks – for exploration and development.
Included in the portfolio is Block 18, a mammoth 21,140 sq km concession that ranks among the largest blocks currently on offer for investment. Authorities revealed at the time that majority state-owned national oil company OQ Exploration & Production (OQ EP) would be entitled to a 10 per cent interest in Block 18, rising to 30 per cent upon a Declaration of Commerciality.
Significantly, offshore Blocks 41 and 21 are as gigantic as Block 18. Covering an area of 25,021 sq km, Block 41 overlooks a vast ocean expanse adjoining the Omani coast from just north of Muscat, all the way to Ras Madrakah. Located just south of this concession is Block 21, covering an offshore expanse of 20,018 sq km.
Commenting on Searcher's support for Oman's ongoing hydrocarbon quest, Alan Hopping, Managing Director, added: 'Our collaboration with Oman MEM represents a shared vision to advance energy exploration through the highest quality geoscience data. The success of Phase One has provided new perspectives on the subsurface geology, and Phase Two will take us even further in illuminating opportunities off Oman's coast. We're proud to continue our work in this exciting region.'
© All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Broadcast Pro
7 hours ago
- Broadcast Pro
Multiply Group launches MMG
Multiply Media Group (MMG) combines BackLite Media, Viola Media and Media 247 to operate one of the UAE's largest premium outdoor portfolios with 3,000 units. Abu Dhabi-based investment holding company Multiply Group has launched Multiply Media Group (MMG), bringing together three of its leading out-of-home (OOH) media companies—BackLite Media, Viola Media, and Media 247—into a single, unified entity. Headquartered in the UAE, MMG is positioned to become a dominant force in tech-driven media, with ambitions to reshape the media landscape both regionally and globally. The announcement was made at the World Out of Home Organisation (WOO) Annual Congress in Mexico City, accompanied by a global digital out-of-home (DOOH) campaign that illuminated major cities across the world. The launch highlights Multiply Group's expanding international footprint, reinforcing its role as a $7.2bn subsidiary of International Holding Company (IHC), the most valuable holding firm in the Middle East with a market cap exceeding $240bn. Samia Bouazza, GCEO and Managing Director of Multiply Group, said: 'The launch of Multiply Media Group represents the most significant media consolidations in the UAE. By bringing together market-leading media assets under a single AI & tech-driven group, we are reinforcing our commitment to long-term value creation and shareholder returns. MMG lays a strong foundation for our global ambitions and forward-looking investment strategy.' MMG will focus on performance, scale, and strategic partnerships to advance innovation in the OOH media space. The group will target high-potential media investments and foster synergy across its holdings to capitalize on emerging trends, especially the transformative role of AI in advertising. Jawad Hassan, Head of Media and Communications Vertical at Multiply Group, added: 'For several years, Multiply Group's ambitious growth strategy for the media sector has taken us from an integrated portfolio of three industry leaders to a media powerhouse with vast potential to redefine the entire regional media landscape in ways that will bring immediate impact and long-term value for clients. Through MMG, we stand ready to embrace the emerging trends in our industry, particularly the transformative role of AI, and we will continually look to invest in technologies that enable us to create dynamic and innovative campaigns.' The scale of MMG includes 3,000 advertising units across the UAE, including 75+ premium assets on Dubai's Sheikh Zayed Road, which are backed by long-term partnership agreements with the Road and Transport Authority (RTA) (Mada Media) in Dubai and The Department of Municipalities & Transport (DMT) in Abu Dhabi. James Bicknell, CEO of Multiply Media Group, stated: 'Multiply Media Group launches as a transformative force in out of home media — a powerhouse that unites some of the region's most strategic media assets under one bold vision. With MMG, we are not simply scaling up — we are scaling intelligently. Our mandate is clear: deliver context at scale, and reach audiences where it truly matters, when it matters most. MMG is engineered to be agile, data-led, and deeply integrated, enabling our clients to engage audiences with greater relevance, responsiveness, and resonance than ever before. This is more than media — it's momentum.'
Gulf Today
7 hours ago
- Gulf Today
Formula 1 sponsorship revenue over $2B in 2024, closing on NFL
Formula 1 is hot on the tail of the big dog of professional sports marketing, the NFL, and cleared $2.04 billion in sponsorship revenue in 2024. SponsorUnited, which tracks sponsorship and advertising takes across sports, had F1 and its teams behind only the NFL at $2.5 billion in total sponsorship revenue. The total advertising spend for F1 in 2025 is on course to exceed $2.5 billion, according to Ampere Analysis. But major US sponsors such as American Express and IBM still are flowing in with the circuit catapulting in popularity off the success of Netflix series "Drive to Survive" while thriving under the control of Liberty Media. F1 tops the NBA, MLB and NHL and its racing teams each accounted for more than $6 million, according to the report, which breaks down the airbox and sidepod ad placement cost at more than $5 million for the most popular drivers on the circuit. Tops among individual sponsor agreements with F1 is the 10-year, $1 billion pact with luxury conglomerate LVMH, which holds a portfolio anchored by TAG Heuer, Louis Vuitton and Hennessy. The largest sponsor for any F1 team is the Williams contract with Australian software corporation Atlassian valued at a reported $25 million to $30 million per year. On the NFL side, the most significant singular sponsorship commitment is with Pepsi. That contract is worth a reported $2 billion over 10 years for exclusive rights at all NFL events and use of the league's trademark in advertising. With F1, Mercedes, Ferrari, Red Bull and McLaren are the highest earners in the sponsorship category. Car and driver technology accounts for nearly $500 million in partner income for the 10 teams, according to the report. Reuters
Arabian Post
9 hours ago
- Arabian Post
Luxury Anchors in the West: Ritz-Carlton Perth Elevates City's Hospitality Scene
Arabian Post Staff -Dubai The Ritz-Carlton's first Australian venture, situated in Perth's Elizabeth Quay, has redefined luxury accommodation in the city since its inauguration on 15 November 2019. Occupying a prime waterfront location along the Swan River, the hotel offers panoramic views of the city skyline, river, and urban parks through its floor-to-ceiling windows. The 205 elegantly appointed guest rooms and suites are designed to provide a seamless blend of comfort and sophistication . The hotel's architecture and interior design pay homage to Western Australia's natural beauty. Notably, the grand lobby features over 10,000 pieces of Kimberley sandstone, evoking the feeling of traversing the Karijini Gorges . Art installations, sculptures, and paintings by local artists adorn the public spaces, suites, and The Ritz-Carlton Club Lounge, reflecting the region's rich cultural heritage . ADVERTISEMENT Culinary experiences at The Ritz-Carlton, Perth are anchored by the Hearth Restaurant and Lounge, which showcases the best of Australia's bounty through flame-grilled preparations. Menus are presented with a map detailing the sourcing of ingredients, offering guests an immersive dining experience . The Songbird Bar & Lounge, the hotel's rooftop venue, provides an ideal setting to enjoy Western Australia's stunning sunsets, complemented by a selection of avian-inspired cocktails . Guest reviews consistently highlight the hotel's exceptional service and amenities. The rooftop infinity pool and spa offer a tranquil retreat, while the gym and wellness facilities cater to fitness enthusiasts . The hotel's central location in Elizabeth Quay ensures easy access to Perth's attractions, making it a preferred choice for both business and leisure travelers .
