Oman pens two exploration agreements with Occidental Oman

Occidental Oman has also signed an agreement to conduct a research study on the labour and skills needed for the Sultanate's energy sector
Oman pens two exploration agreements with Occidental Oman
The agreement, which was signed by Oil Minister Mohammed bin Hamad Al-Rumhi (pictured), gave rights for concession 51 to Occidental Oman and for concession 65 to Occidental Oman and Oman Oil Co unit Oman Oil Company Exploration and Production.
By Bernd Debusmann Jr
Mon 17 Dec 2018 09:27 AM

Oman’s government has signed two agreements to give a unit of the state-owned Oman Oil Co the right to explore for oil and gas in concessions 51 and 65, Oman’s oil ministry (OPAL) said in a Tweet on Sunday.

The agreement, which was signed by Oil Minister Mohammed bin Hamad Al-Rumhi, gave rights for concession 51 to Occidental Oman and for concession 65 to Occidental Oman and Oman Oil Co unit Oman Oil Company Exploration and Production.

Oman’s state broadcaster said that concession 51 covers a total area of 10,133 sq km, while concession 65 covers 1,230 sq. km.

The oil ministry’s director of investment, Salman al-Shehhi, reportedly also told Oman TV that the agreement will allow Occidental to spend a total of $14 million for exploration in the contract’s first three years.

In a separate announcement, Occidental Oman and the Oman Oil Company Exploration & Production LLC (OOCEP) announced they signed an 18-month agreement to conduct a research study that “will explore and evaluate the impact of existing and emerging technologies on careers, skill requirements and training within Oman’s energy sector.”

The study will seek to make recommendations to address the evolving skill requirements within the Omani labour market and provide labour market insights for stakeholders in the energy sector.

“The energy sector is undergoing a transformation, with a stronger focus on digitisation and the development of new technologies,” said Stephen Kelly, president and general manager of Occidental Oman.

Kelly added that Occidental Oman believes “that research over the future of Oman’s labour market is essential to the sector’s future progress, and will bring forth important recommendations on skills requirements and future training programmes for Oman’s workforce.”

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