Latest news with #OxyOman
18-05-2025
- Business
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.
Observer
08-04-2025
- Sport
- Observer
Intense competitions mark Day 3 of HM Camel Cup Festival
BARKA, APRIL 8 The third day of competitions of the 2025 His Majesty the Sultan's Camel Cup Festival, held at Al Fulaij Track in the Wilayat of Barka, witnessed intense and thrilling competitions in the 'Yathaa' and human riders categories. The races brought together elite camel owners from across Oman and offered a variety of valuable prizes, including cars, Icons, daggers and cash awards. 'YATHAA' CATEGORY 4 YEARS OLD FOR 6 KM In the first race, Elaj owned by Ali al Owaisi delivered an outstanding performance and claimed first place, winning an icon and a car. The second race saw Al Hathar, owned by Ahmed al Darai, take the lead and win a dagger and a car. In the third race, Al Hurra, owned by Saeed al Wahibi, crossed the finish line first and received a car as a prize. Al Taghiyah, owned by Mohammed al Jahafi, emerged victorious in the fourth race and was awarded a cash prize, while Ghara, owned by Hammoud al Ghafeeli, topped the fifth race and also secured a cash prize. The excitement carried on into the sixth race, where Thameen, owned by Mohammed al Saadi, clinched first place and received cash prize. In the seventh race, Qarar, owned by Badr al Owaisi, achieved the top position and earned a cash prize as well. Jawaher, owned by Mohammed al Jahafi, won the eighth race and took home a cash prize, followed by Adeem, owned by Ahmed al Wahibi, who triumphed in the ninth race and was also awarded a cash prize. HUMAN RIDERS OVER 2 KM In the human riders category, which requires notable skill and experience, Al Shamikha, owned by Amer al Zar'i, stood out in the first race and was rewarded with a dagger and a car. The second race was won by Mashkoor, owned by Hamad al Amri, who received a cash prize. In the third race, Thameen, owned by Salem al Zar'i, took first place and a cash prize. The morning of April 9, the fourth day of the festival will feature three races in the 'Thanaya' category for camels aged 5 years, covering a distance of 8 kilometres. Additionally, four races will be held in the 'Al Hawl' category for camels aged 6 years and above. Each category includes one car prize and two iconic trophies, along with cash prizes awarded to the top 10 winners in each race. OXY OMAN CONTINUES SUPPORT The Oman Camel Racing Federation signed a sponsorship agreement with Oxy Oman for the 11th consecutive year to support camel races held in the concession areas of Adam, Ibri and Haima, in addition to the annual national race that features participation from across all governorates of Oman. The signing ceremony took place in Muscat under the auspices of Basil bin Ahmed al Rawas, Under-Secretary of the Ministry of Culture, Sports and Youth for Sports and Youth. The event was attended by Shaikh Saeed bin Saud al Ghafili, OCRF Chairman, along with officials from both sides and representatives of local media. Al Rawas emphasised the importance of this long-standing partnership and praised the role of the private sector in supporting traditional sports. Al Ghafili expressed his gratitude to His Majesty the Sultan for the continuous support of camel racing, highlighting the agreement's impact on enhancing competitions and providing economic benefits to camel owners and trainers. He also mentioned the federation's ongoing efforts to improve race tracks and ensure the sustainability of the sport. From his side, Nasser bin Issa al Maskari, Social Responsibility Manager at Oxy Oman, said the agreement reflects the company's commitment to preserving Oman's cultural heritage and strengthening ties with the local community, particularly in concession areas, through dedicated and continued support for camel racing.
Zawya
24-03-2025
- Business
- Zawya
Oxy Oman sustains 2024 hydrocarbon output at 66K boepd
MUSCAT: Oxy Oman, wholly-owned subsidiary of US-based international energy firm Occidental, achieved hydrocarbon output (corresponding to its production share) averaging 66K barrels of oil equivalent per day (boepd) from its sizable upstream portfolio in Oman in 2024. The figure mirrors output levels recorded in 2023, but represents a 2 per cent uptick from the 2022 level of 65K boepd, the company revealed in its newly published 2024 Annual Report. Significantly, Oman's output was among key contributions that helped the multinational corporation achieve a record combined production of 1.33 million boepd across its global portfolio in 2024. In her opening remarks, Vicki Hollub, President and CEO — Occidental, listed Oxy's prolific international assets in Oman, the UAE and Algeria, besides the Dolphin Energy Project, as having been instrumental in the achievement of this figure. In Oman, Oxy — the largest independent oil producer in the country — has a portfolio of eight upstream assets. It is the operator of Block 9 (50 per cent interest), Block 27 (65 per cent), Block 53 Mukhaizna Field (47 per cent), Block 62 (100 per cent) and Block 65 (51 per cent), while holding working interests in Blocks 30 , 51 and 72 (all 100 per cent apiece), which are in the exploration phase. In terms of the size of this portfolio, the company noted: 'Occidental holds 6.0 million gross acres and has 10,000 potential well inventory locations.' Notable among these concessions is Block 9 from which Oxy has produced over 823 million gross blocks since the beginning of its operation 'through successful exploration, continuous drilling improvements and EOR projects,' it said in the Annual Report. Also prolific is the Mukhaizna Field in Block 53 where a major EOR based pattern steam flood project utilises some of the largest mechanical vapour compressors ever built. 'Since assuming operations in the Mukhaizna Field in 2005, Occidental has drilled over 3,600 new wells and has produced over 634 million gross barrels,' Oxy further noted. Significantly, around $400 million was invested in capital development across all of the Oman blocks in 2024, primarily towards the drilling of 95 wells and execution of facilities projects to support development and EOR activities. Going into 2025, Oxy aims to continue to enhance production by adding extended and dual laterals, stimulating wells with the Oxy Jetting wellbore stimulation system and expanding thermal conformance, it said. Through the Dolphin Pipeline, owned 24.5 per cent by Occidental, Oman receives around 200 million standard cubic feet per day (mmscfd) of natural gas. Dolphin Energy (DEL), which owns and operates the 230-mile-long, 48-inch-diameter natural gas pipeline, transports dry natural gas from Qatar to the UAE and Oman. In 2025, Occidental plans to spend $5.8 billion to $6.0 billion in the development of its oil and gas assets globally. This compares with oil and gas capital expenditures, including exploration, of approximately $5.3 billion in 2024 and primarily focused on Occidental's assets in the Permian Basin, DJ Basin, Gulf of America and Oman. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
