Latest news with #Block6
Observer
22-05-2025
- Business
- Observer
PDO offers high-potential oil acreage for investment
MUSCAT, MAY 22 In a significant development, Petroleum Development Oman (PDO) – the largest producer of oil and gas in the Sultanate of Oman – has invited Expressions of Interest (EoIs) from local and international operators in the development of a potentially hydrocarbon-rich field within its sprawling Block 6 license. The majority state-owned national oil company announced in a post on Thursday, May 22, 2025, that a 130 km2 parcel of land, dubbed Area A, is being offered for investment and development in the Qarn Alam Cluster, within the prolific Ghaba Basin in northern Oman. 'This represents a strategic opportunity to access a discovered resource with more than 1 billion barrels of STOIIP (stock tank oil initially in place), located within Area-A, which spans over 130 km2. The area offers proximity to existing infrastructure and holds significant development potential,' PDO stated in its post. Operators interested in the exploration, appraisal and development of Area-A have been invited to submit a letter confirming their willingness to participate in a competitive process, along with supporting documents to demonstrate their relevant experience. The deadline for submission of EoIs is June 5, 2025. According to industry experts, the move is in line with PDO's broader strategy of engaging specialized operators to manage specific assets within its portfolio. Illustrative of this trend is the company's decision in 2006 to partner with Indonesia's MedcoEnergi to operate the KSF cluster—a group of 18 small and mature oil fields located in southern Oman. This arrangement was designed to allow PDO to focus on its larger, core assets while leveraging MedcoEnergi's expertise to optimize production from these smaller fields. Under the contract, MedcoEnergi assumed full operational responsibility, including exploration, drilling, and production activities, while PDO retained ownership of the hydrocarbons. The initial 10-year contract was extended in 2015 for an additional 25 years, running through 2040. Another example is the Rima Cluster contract overseen by Daleel Petroleum and focusing on a group of mature oil fields located in south-central Oman. Like the Karim Small Fields, they require cost-efficient, focused, and flexible field development strategies. While the above-mentioned examples are based essentially on 'service contracts', an eventual deal over the Area-A resource is anticipated to be on the lines of a broader partnership that also rewards the new player for its use of proprietary technology, if any, and other financial, tech, and performance inputs. The Ghaba Basin, while contributing the mainstay of PDO's oil and gas production, is characterized by complex structural traps and diverse reservoir types that require significant financial and technological wherewithal to unlock their hydrocarbon potential. International operators typically bring to the table cutting-edge technologies, proprietary tools, and specialized expertise in enhanced oil recovery (EOR), deep reservoir exploration, tight or complex geological structures, and digital oilfield integration and automation. By partnering with these players, PDO can accelerate the deployment of these technologies, thus reducing risk and improving recovery factors, experts add.
Zawya
20-05-2025
- Business
- Zawya
Oman: ‘Climate-adapted' turbines for PDO wind farms
MUSCAT: Chinese multinational wind turbine manufacturer Goldwind is set to make its debut in Oman's sizable wind energy space with a contract to supply wind turbines for a pair of wind farms with a combined capacity of 234 MW. The partnership of Omani state-owned OQ Alternative Energy (OQAE) [with a 51 per cent shareholding] and French integrated multi-energy group TotalEnergies (49 per cent) is developing the two wind farms in the southern part of the Block 6 concession of Petroleum Development Oman (PDO), currently the largest producer of hydrocarbons in Oman. Output from the two wind farms, dubbed Riyah-1 and Riyah-2, will be supplied to PDO under long-term power purchase agreements. Agreements green-lighting the start of work on these wind farms, among other initiatives, were signed last week. PowerChina Huadong Engineering (PowerChina) was named the Engineering, Procurement and Construction (EPC) contractor. For Beijing-headquartered Goldwind, which was ranked the largest supplier of wind turbines to the global market in 2024, the Oman contracts represent a further expansion into the lucrative Middle East market. 'We are honoured to announce that Goldwind, as the wind turbine supplier for the 234 MW Riyah 1&2 wind projects, is partnering with OQ Alternative Energy (OQAE) and TotalEnergies to deliver Oman's largest wind power initiative—marking a historic step in the nation's decarbonization journey. It also represents Goldwind's entry into its global market, reinforcing our commitment to worldwide sustainable energy solutions,' the Chinese firm stated in a post. According to Goldwind, the two wind farms will be equipped with the company's 'climate-adapted turbines' designed to displace 740,000 tonnes of CO₂ annually, which is equivalent to removing 160,000 cars from roads. 'These projects will supply green electricity to the Petroleum Development Oman (PDO) electricity transmission network through long- term power purchase agreements. This represents a pioneering model of integrating renewable energy into the traditional fossil fuel sector, demonstrating Oman's strong commitment to decarbonizing its oil and gas sector,' it noted. Ranked among the Top 5 wind turbine manufacturers in China, Goldwind is credited with delivering more than 53,000 wind turbines worldwide as of the end of Q3 2024, boasting a global cumulative installed capacity exceeding 128GW. According to the Global Wind Energy Council's (GWEC) annual Supply Side Data report, Goldwind remained the world's leading turbine supplier, installing more than 20 GW in 2024 – a new record. As of the end of Q1 2025, the company's total order backlog was 51.09GW, which includes 48.6 GW of external orders. Oman, with a requirement of hundreds of wind turbines to meet its target of securing at least 30 per cent of its energy needs from renewables, represents a key market for manufacturers like Goldwind. Additionally, an estimated 2,000 wind turbines will also be required to support Oman's green hydrogen productions targets by 2030.
Observer
19-05-2025
- Business
- Observer
‘Climate-adapted' turbines for PDO wind farms
MUSCAT, MAY 19 Chinese multinational wind turbine manufacturer Goldwind is set to make its debut in Oman's sizable wind energy space with a contract to supply wind turbines for a pair of wind farms with a combined capacity of 234 MW. The partnership of Omani state-owned OQ Alternative Energy (OQAE) [with a 51 per cent shareholding] and French integrated multi-energy group TotalEnergies (49 per cent) is developing the two wind farms in the southern part of the Block 6 concession of Petroleum Development Oman (PDO), currently the largest producer of hydrocarbons in Oman. Output from the two wind farms, dubbed Riyah-1 and Riyah-2, will be supplied to PDO under long-term power purchase agreements. Agreements green-lighting the start of work on these wind farms, among other initiatives, were signed last week. PowerChina Huadong Engineering (PowerChina) was named the Engineering, Procurement and Construction (EPC) contractor. For Beijing-headquartered Goldwind, which was ranked the largest supplier of wind turbines to the global market in 2024, the Oman contracts represent a further expansion into the lucrative Middle East market. 'We are honoured to announce that Goldwind, as the wind turbine supplier for the 234 MW Riyah 1&2 wind projects, is partnering with OQ Alternative Energy (OQAE) and TotalEnergies to deliver Oman's largest wind power initiative—marking a historic step in the nation's decarbonization journey. It also represents Goldwind's entry into its global market, reinforcing our commitment to worldwide sustainable energy solutions,' the Chinese firm stated in a post. According to Goldwind, the two wind farms will be equipped with the company's 'climate-adapted turbines' designed to displace 740,000 tonnes of CO₂ annually, which is equivalent to removing 160,000 cars from roads. 'These projects will supply green electricity to the Petroleum Development Oman (PDO) electricity transmission network through long- term power purchase agreements. This represents a pioneering model of integrating renewable energy into the traditional fossil fuel sector, demonstrating Oman's strong commitment to decarbonizing its oil and gas sector,' it noted. Ranked among the Top 5 wind turbine manufacturers in China, Goldwind is credited with delivering more than 53,000 wind turbines worldwide as of the end of Q3 2024, boasting a global cumulative installed capacity exceeding 128GW. According to the Global Wind Energy Council's (GWEC) annual Supply Side Data report, Goldwind remained the world's leading turbine supplier, installing more than 20 GW in 2024 – a new record. As of the end of Q1 2025, the company's total order backlog was 51.09GW, which includes 48.6 GW of external orders. Oman, with a requirement of hundreds of wind turbines to meet its target of securing at least 30 per cent of its energy needs from renewables, represents a key market for manufacturers like Goldwind. Additionally, an estimated 2,000 wind turbines will also be required to support Oman's green hydrogen productions targets by 2030.
Observer
11-05-2025
- Business
- Observer
Oman refutes reports of the sale of shares in natural gas fields
The Ministry of Energy and Minerals said it continues to implement its long-term strategy based on developing national assets and maximizing their returns to serve the country's economic and development goals. Dr. Saleh bin Ali al Anbouri, director general of Oil and Gas Exploration and Production at the Ministry of Energy and Minerals, said that the Ministry continues to monitor the implementation of major development projects in gas fields in line with global best practices in terms of sustainability and financing. This is based on a solid financial base and well-thought-out investment plans that keep pace with the aspirations of the next phase, without the need to divest from natural gas-producing assets. The Director General also noted the inaccuracy of rumors circulating about the sale of shares in natural gas fields. He noted that the Ministry is keen to enhance operational efficiency and attract global technical and investment expertise through well-thought-out partnerships that focus on knowledge transfer and enhancing added value within the Sultanate of Oman, without compromising ownership or sovereignty of strategic national assets. The Ministry affirms its full commitment to the principles of transparency and accountability, and continues to coordinate with all local and international partners to serve the interests of the Sultanate of Oman and enhance its position as a trusted regional hub in the energy sector. background Oman is looking to sell a stake in natural gas assets valued at about $8 billion, according to Bloomberg. The firm Energy Development Oman is seeking partners for a minority stake in the fields contained in Block 6, the reports said,.
Yahoo
17-02-2025
- Business
- Yahoo
TotalEnergies and ENI Sign an Agreement With Cyprus and Egypt for the Export of Cyprus Block 6 Gas Through Egypt
PARIS & CAIRO, February 17, 2025--(BUSINESS WIRE)--In the presence of President of Egypt Abdel Fattah El-Sisi and President of Cyprus Níkos Christodoulídis, TotalEnergies and ENI, partners in Cyprus offshore Block 6 (TotalEnergies 50%, ENI 50% operator), have signed today a Host Government Agreement (HGA) with the Arab Republic of Egypt and the Republic of Cyprus related to the development of Block 6 gas resources. Signed during the Egypt Energy Show (EGYPES) with the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt, Karim Badawi, and the Minister of Energy, Commerce and Industry of the Republic of Cyprus, George Papanastasiou, this agreement is a key milestone towards the development of the Cronos gas field. Located in Cyprus Block 6, Cronos field was discovered in 2022 and successfully appraised in February 2024. The agreement provides a framework allowing the Cronos gas to be processed in the existing Zohr facilities offshore Egypt and then liquefied in the Damietta LNG plant in Egypt, for export to European markets. Following the signature of this agreement, the Block 6 partners will now proceed with the Cronos Development and Production Plan, in close collaboration with Cyprus authorities. "TotalEnergies is very pleased to be part of the opening of an export route through Egypt for Cyprus gas. This Host Government Agreement represents a major step in valorizing the Cyprus gas through available LNG capacities in Egypt, contributing to Europe energy security by bringing additional LNG volumes," said Julien Pouget, Senior Vice President Middle East & North Africa, Exploration & Production at TotalEnergies. In Cyprus, TotalEnergies also has interests in Block 11 (50%, operator), Block 7 (50%, operator), and Block 8 (40%). About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. @TotalEnergies TotalEnergies TotalEnergies TotalEnergies Cautionary Note The terms "TotalEnergies", "TotalEnergies company" or "Company" in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words "we", "us" and "our" may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC). View source version on Contacts TotalEnergies Contacts Media Relations: +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 l ir@ Sign in to access your portfolio
