Latest news with #HESalimbinNasseralAufi
Muscat Daily
18-05-2025
- Business
- Muscat Daily
Oman extends concession agreement with Oxy for Block 53 until 2050
Muscat – Oman's Ministry of Energy and Minerals on Sunday signed an agreement with Occidental Oman (Oxy Oman) and its partners to extend the exploration and production sharing agreement for Concession Block 53 in Mukhaizna until 2050. Oxy Oman's partners in the Mukhaizna field include OQ Exploration and Production, Indian Oil Corporation Liwa, and PTT Exploration and Production. The agreement was signed under the patronage of H E Salim bin Nasser al Aufi, Minister of Energy and Minerals. The extended agreement provides for continued investment totalling approximately $30bn over the concession period. This includes capital and operational expenditure aimed at improving production efficiency and implementing the latest extraction technologies to maximise utilisation of the region's available resources. 'This strategic step is part of the ministry's efforts to ensure the continued operation of the Mukhaizna field and enhance oil production through the application of advanced steam injection technology and the development of the Thulaylat reservoir,' the Ministry of Energy and Minerals said in a press statement. The Mukhaizna field has served as a successful model of collaboration between operators and has, over the years, led to tangible improvements in production levels – currently recording the highest daily crude oil output among the sultanate's fields. 'These major investments are expected to support the sustainability of the supply chain and associated operational contracts, which will positively impact economic activity and generate new employment opportunities in the oil and gas sector and its supporting industries,' the ministry added. Commenting on the agreement, H E Aufi said, 'The extension of the concession agreement for Block 53 represents a pivotal step towards ensuring the continued contribution of this vital field to the national economy. The anticipated investment will support production development and enhance the added value of the energy sector in Oman. We remain committed to working with our partners to fully realise the potential of Block 53.' This extension reaffirms Oman's continued commitment to the sustainability of its oil and gas sector through the adoption of best practices and modern technologies to maximise returns from its natural resources.
Muscat Daily
13-05-2025
- Business
- Muscat Daily
ARA showcases innovation, safety excellence at OPES 2025
ARA Petroleum (ARA), the energy arm of The Zubair Corporation, proudly announces its participation in the Oman Petroleum & Energy Show (OPES) 2025, which officially opens on Monday under the patronage of H E Salim bin Nasser al Aufi, Minister of Energy and Minerals. Held at the Oman Convention & Exhibition Centre, this year's event is themed 'Affordable, Sustainable, and Clean Energy Solutions'. As one of Oman's leading exploration and production companies, ARA Petroleum enters OPES 2025 with a continued focus on environmental and social responsibility, innovation, and operational excellence. The exhibition provides a vital platform for ARA to engage with partners, collaborators, innovators, and contractors who are shaping the future of the energy sector. 'This year at OPES, ARA is proud to highlight the innovations driving our operational excellence – from digital solutions to sustainable practices that reduce environmental impact,' said Omar al Jaaidi, Vice President of ARA Petroleum. 'But what truly sets us apart is our people. Their dedication to safety, performance, and responsible energy is at the heart of everything we do.' A key highlight of this year's participation is ARA's recognition in the 2024 OPAL Award for Best Practices, where it secured First Place in the 'Operator' category for Health and Safety, selected from over 200 countries. This prestigious accolade celebrates ARA's Integrated QHSSE Digital AI Solution (Mfano) – a powerful testament to the company's commitment to safety, innovation, and continuous improvement. Visitors to the ARA Petroleum booth will have the opportunity to explore the company's latest automation, emissions reduction, and community engagement initiatives. A central feature will be an interactive showcase of the OPAL Award-winning project, underscoring ARA's leadership in cultivating a strong health and safety culture. ARA's participation in OPES 2025 directly aligns with Oman Vision 2040, reaffirming the company's mission to support a cleaner, safer, and more resilient energy future. ARA is a dynamic member of the Exploration & Production industry in Oman and Tanzania. The company is a full cycle E&P company which explores, appraises, develops and produces oil & gas resources both in Oman and internationally.
Zawya
25-02-2025
- Business
- Zawya
Oman makes massive push for renewable energy
Muscat – Oman has announced plans for ten new renewable energy projects between 2027 and 2029 targeting a combined capacity of around 2,300MW. These are part of the sultanate's broader efforts to diversify its energy mix and reduce reliance on fossil fuels. Two additional projects, with total capacity of 1,220MW, are also planned by 2029. The projects align with Oman Vision 2040, which prioritises clean energy and environmental sustainability. The announcement was made during a media briefing organised by Authority for Public Services Regulation (APSR) under the patronage of H E Salim bin Nasser al Aufi, Minister of Energy and Minerals. Oman currently operates the Dhofar 1 Wind Energy Project of 50MW capacity and Ibri 2 Solar Project generating 500MW. Two major solar projects – Manah 1 and Manah 2 – were launched in 2025, collectively adding 1,000MW to the grid. By 2027, Oman plans wind and solar energy projects with combined capacity of 1400MW-1450MW. This will expand by 850MW by 2028, going up by a further 1200MW by 2029. The strategy will culminate in 2030 with a solar energy project capable of generating 3,000MW. Dr Mansoor Talib al Hinai, Chairman of APSR, outlined several initiatives to promote sustainability and energy efficiency. Among these is the Wadi Dayqah Dam optimisation project, which will focus on water purification and energy storage. A geothermal energy feasibility study is also underway, along with a waste-to-biofuel conversion initiative to supply biofuel for cement production. Additionally, community solar stations are being developed that will utilise health and educational facilities for solar energy generation. A regulatory framework is being drafted to guide energy transmission and foster competition in the electricity market. Hinai noted the sector's contribution to the economy, with its share of GDP rising from 2.2% in 2020 to 2.5% in 2024. Investments in regulated sectors have re-ached approximately RO2.837bn, with RO773mn allocated for electricity distribution, RO652mn for Oman Electricity Transmission Co, RO192mn for natural gas transmission, RO860mn for water and sanitation, and RO450mn for electricity generation. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
24-02-2025
- Business
- Muscat Daily
Oman makes massive push for renewable energy
Muscat – Oman has announced plans for ten new renewable energy projects between 2027 and 2029 targeting a combined capacity of around 2,300MW. These are part of the sultanate's broader efforts to diversify its energy mix and reduce reliance on fossil fuels. Two additional projects, with total capacity of 1,220MW, are also planned by 2029. The projects align with Oman Vision 2040, which prioritises clean energy and environmental sustainability. The announcement was made during a media briefing organised by Authority for Public Services Regulation (APSR) under the patronage of H E Salim bin Nasser al Aufi, Minister of Energy and Minerals. Oman currently operates the Dhofar 1 Wind Energy Project of 50MW capacity and Ibri 2 Solar Project generating 500MW. Two major solar projects – Manah 1 and Manah 2 – were launched in 2025, collectively adding 1,000MW to the grid. By 2027, Oman plans wind and solar energy projects with combined capacity of 1400MW-1450MW. This will expand by 850MW by 2028, going up by a further 1200MW by 2029. The strategy will culminate in 2030 with a solar energy project capable of generating 3,000MW. Dr Mansoor Talib al Hinai, Chairman of APSR, outlined several initiatives to promote sustainability and energy efficiency. Among these is the Wadi Dayqah Dam optimisation project, which will focus on water purification and energy storage. Dr Mansoor Talib al Hinai, Chairman of APSR A geothermal energy feasibility study is also underway, along with a waste-to-biofuel conversion initiative to supply biofuel for cement production. Additionally, community solar stations are being developed that will utilise health and educational facilities for solar energy generation. A regulatory framework is being drafted to guide energy transmission and foster competition in the electricity market. Hinai noted the sector's contribution to the economy, with its share of GDP rising from 2.2% in 2020 to 2.5% in 2024. Investments in regulated sectors have re-ached approximately RO2.837bn, with RO773mn allocated for electricity distribution, RO652mn for Oman Electricity Transmission Co, RO192mn for natural gas transmission, RO860mn for water and sanitation, and RO450mn for electricity generation.
