Kistos Holdings has taken legal ownership of producing Blocks 3 and 4 onshore Oman from Mitsui E&P Middle East following the issuance of a Royal Decree, marking the company’s entry into the MENA upstream sector.
Kistos maintained its full-year 2026 production guidance following strong operational performance during the first half of the year, while advancing development projects in the North Sea and progressing acquisitions of upstream assets in Oman.
Seven OPEC+ members have agreed to increase collective oil production by 188,000 bpd in August, continuing the gradual rollback of voluntary production cuts while reaffirming their commitment to maintaining market stability.
The Strait of Hormuz will ultimately reopen but Iran and Oman will set new conditions for passage, including transit fees, Kazem Jalali, Iran’s Ambassador to Russia, told Russian daily Izvestia in an interview on Monday.
Oman’s Energy and Minerals Ministry on Sunday opened bidding applications for five new oil and gas concession areas.
Oman has signed agreements worth USD 2.6 billion with consortiums led by Qatar’s Nebras Energy to build two gas-fired power generation plants, regional media reported on Thursday. The deals cover the development of combined-cycle gas turbine power plants in Misfah and Duqm with generation capacities of 1.7 GW and 877 MW, respectively. Both projects have […]
Kongsberg Digital has entered a strategic partnership with Petroleum Development Oman (PDO) to deliver an enterprise AI-powered digital twin. The agreement marks a significant step in driving value creation through close collaboration and industrial intelligence.
The joint venture deal comprises two rigs in Kuwait and six in Oman, all currently under contract with the Kuwaiti and Omani NOCs. ANDOC Drilling will pay USD 91 million for the 70% stake, plus an additional potential payment of USD 21 million based on rig performance, Reuters reported.
Operated by OTTCO, Ras Markaz Terminal supports the Duqm Refinery via an 80-kilometre crude oil pipeline and features eight tanks, floating platforms and a 7-kilometre subsea pipeline, as well as high-speed loading systems. The 40-square-kilometre site is capable of storing up to 200 million barrels of oil and offers international storage options outside the Strait of Hormuz.
Muscat-listed OQ Exploration & Production (OQEP) has signed four contracts worth more than USD 54 million with Omani companies and SMEs to support operations in its concession areas, the company said at the Oman Petroleum & Energy Show 2025.