Latest news with #MedcoEnergi
Zawya
16 hours ago
- Business
- Zawya
Seaweed farming can support Oman's blue economy, climate goals
MUSCAT: Oman's Ministry of Agriculture, Fisheries and Water Resources is supporting a private-led initiative to explore the feasibility of large-scale seaweed cultivation, aimed at driving the growth of various economic activities related to climate mitigation, sustainable fuels, food security and biodiversity enhancement. Leading the initiative is NTZ Solutions, a local Omani firm focused on delivering innovative solutions in carbon capture, waste management and sustainability — centric human capital development. The company is credited with establishing the GCC's first commercial-scale biochar production facility, currently operational in Barka. With funding support from MedcoEnergi — an Indonesian state-owned energy and natural resources development enterprise — work has commenced on a pilot project designed to assess the overall feasibility and scope of large-scale seaweed cultivation in Oman. Speaking at an energy forum held in Muscat earlier in May, representatives of NTZ Solutions and MedcoEnergi shared insights on seaweed cultivation as an 'innovative nature-based solution' to some of the most urgent global challenges. 'We never imagined seaweed could become a solution to the global crises we're currently facing,' said Johan Despurwantoro, Sustainability and Risk Management Specialist at MedcoEnergi. 'But the question is — why should we return to nature? Because nature-based solutions are not just environmentally relevant but also economically powerful.' According to Despurwantoro, seaweed can contribute to poverty reduction, improve food security and serve as a nutritious food alternative. It can offset carbon emissions by replacing synthetic inputs, enhance ecosystem resilience and directly sequester carbon. Seaweed cultivation, he added, has the potential to unlock an extended value chain — from cultivation and logistics to industrial processing — creating significant employment opportunities at both local and regional levels. At the same time, it can advance Oman's progress on several UN Sustainable Development Goals, notably SDG 14 (Life Below Water), SDG 13 (Climate Action) and SDG 2 (Zero Hunger). Notably, a six-month pilot project was recently launched by the two partners in collaboration with the Ministry to assess the year-round viability of seaweed cultivation in Oman's coastal waters, Despurwantoro stated. A team of experts from NTZ Solutions and MedcoEnergi is currently evaluating the consistency of cultivation and identifying ideal conditions for selected native species. A key member of the team is Kamaruddin Azis, Project Facilitator at the COMMIT Foundation. In an update on the pilot, Kawther al Harrasi, Programme Manager at NTZ Solutions, revealed that the company has secured a pilot site within the Ministry's research facility at Bandar Al Rowdha in Muscat. Of the 12 native seaweed species initially studied, six — Ulva, Codium, Sargassum, Kerva, Hypnea and Gracilaria — were selected for their commercial value. These species are already utilised globally in the food and beverage, pharmaceutical, cosmetics and agriculture industries, she explained. In the next phase of the project, the focus will shift to scaling up production to support the development of high-value products such as agar, carrageenan, bioplastics and pharmaceutical ingredients. Kawther noted that seaweed can also play a major role in carbon sequestration. In her presentation, she further emphasised the significant knock-on effects of seaweed cultivation for Oman's blue economy growth strategy. Beyond the direct economic benefits, seaweed farming can contribute to job creation, in-country value generation and biodiversity enhancement, she added.
Observer
3 days ago
- Business
- Observer
Seaweed farming can support Oman's blue economy, climate goals
MUSCAT: Oman's Ministry of Agriculture, Fisheries and Water Resources is supporting a private-led initiative to explore the feasibility of large-scale seaweed cultivation, aimed at driving the growth of various economic activities related to climate mitigation, sustainable fuels, food security and biodiversity enhancement. Leading the initiative is NTZ Solutions, a local Omani firm focused on delivering innovative solutions in carbon capture, waste management and sustainability — centric human capital development. The company is credited with establishing the GCC's first commercial-scale biochar production facility, currently operational in Barka. With funding support from MedcoEnergi — an Indonesian state-owned energy and natural resources development enterprise — work has commenced on a pilot project designed to assess the overall feasibility and scope of large-scale seaweed cultivation in Oman. Speaking at an energy forum held in Muscat earlier in May, representatives of NTZ Solutions and MedcoEnergi shared insights on seaweed cultivation as an 'innovative nature-based solution' to some of the most urgent global challenges. 'We never imagined seaweed could become a solution to the global crises we're currently facing,' said Johan Despurwantoro, Sustainability and Risk Management Specialist at MedcoEnergi. 'But the question is — why should we return to nature? Because nature-based solutions are not just environmentally relevant but also economically powerful.' According to Despurwantoro, seaweed can contribute to poverty reduction, improve food security and serve as a nutritious food alternative. It can offset carbon emissions by replacing synthetic inputs, enhance ecosystem resilience and directly sequester carbon. Seaweed cultivation, he added, has the potential to unlock an extended value chain — from cultivation and logistics to industrial processing — creating significant employment opportunities at both local and regional levels. At the same time, it can advance Oman's progress on several UN Sustainable Development Goals, notably SDG 14 (Life Below Water), SDG 13 (Climate Action) and SDG 2 (Zero Hunger). Notably, a six-month pilot project was recently launched by the two partners in collaboration with the Ministry to assess the year-round viability of seaweed cultivation in Oman's coastal waters, Despurwantoro stated. A team of experts from NTZ Solutions and MedcoEnergi is currently evaluating the consistency of cultivation and identifying ideal conditions for selected native species. A key member of the team is Kamaruddin Azis, Project Facilitator at the COMMIT Foundation. In an update on the pilot, Kawther al Harrasi, Programme Manager at NTZ Solutions, revealed that the company has secured a pilot site within the Ministry's research facility at Bandar Al Rowdha in Muscat. Of the 12 native seaweed species initially studied, six — Ulva, Codium, Sargassum, Kerva, Hypnea and Gracilaria — were selected for their commercial value. These species are already utilised globally in the food and beverage, pharmaceutical, cosmetics and agriculture industries, she explained. In the next phase of the project, the focus will shift to scaling up production to support the development of high-value products such as agar, carrageenan, bioplastics and pharmaceutical ingredients. Kawther noted that seaweed can also play a major role in carbon sequestration. In her presentation, she further emphasised the significant knock-on effects of seaweed cultivation for Oman's blue economy growth strategy. Beyond the direct economic benefits, seaweed farming can contribute to job creation, in-country value generation and biodiversity enhancement, she added. HIGHLIGHTS Seaweed cultivation has the potential to unlock an extended value chain from cultivation and logistics to industrial processing
Zawya
23-05-2025
- Business
- Zawya
Oman: PDO offers high-potential oil acreage for investment
MUSCAT: 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. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
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.
The Sun
21-05-2025
- Business
- The Sun
Indonesian gas firms sign gas swap deal to meet domestic demand
TANGERANG: Gas producers in western Indonesia have signed a swap deal with state-owned distributor Perusahaan Gas Negara and Singaporean buyers Sembcorp Gas and Gas Supply Pte to shore up domestic gas supply, state energy firm PT Pertamina said on Wednesday. The gas swap scheme aims to ensure demand from Indonesia's power sector and industry is met in anticipation of declining natural gas production in Sumatra, Pertamina said in a statement. Under its terms, Indonesian gas producer MedcoEnergi - whose units operate within the West Natuna Supply Group and Corridor Block, which are also parties to the deal - will replace flows to Singapore from the Corridor Block with those from the WNSG, Medco said in a separate statement. Flows from the Corridor Block will be re-diverted to meet Indonesia's domestic gas needs, with Perusahaan Gas Negara as a domestic buyer. Medco also signed a separate gas sales agreement with PGN. The collaboration will ensure adequate gas supply in the domestic and international markets, said Ronald Gunawan, MedcoEnergi's director and chief operating officer. Indonesia's oil and gas regulator SKK Migas had previously said it was aiming for a gas swap to begin in June.
