Oman Said to Consider Selling Stake in $8 Billion Gas Fields
Oman is looking to sell a stake in natural gas assets valued at about $8 billion, according to people familiar with the plan, as the sultanate seeks to raise cash to shore up its state finances and fund investments.
State-owned firm Energy Development Oman SAOC is seeking partners for a minority stake in the fields contained in Block 6, which also holds the country's most prized oil assets, the people said, asking not to be named because the plans are private. Besides bringing in funds for Oman, a sale would also help spread the billions of dollars of costs needed to develop and operate the fields, which consultant Wood Mackenzie Ltd. values at about $8.2 billion.
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