Oman is expected to announce the results of its tender for four oil and gas blocks next year, a government official told the Times of Oman.
The government opened a tender for the blocks—43B, 47, 51, and 65—in September, according to the Times of Oman. Block 51 is an offshore block while 43B, 47, and 65 are onshore blocks.
Three of the four blocks are for oil extraction and one is for gas extraction, the Times of Oman reports.
The government will close the tender on December 31st, 2017.
“The response is very good since the oil price is attractive now,” an official at the Ministry of Oil and Gas, Saleh A. El Anboori, told the Times of Oman. The government will compare the bid proposals over a time period of three to four months, El Anboori said, before making its final decision. Contracts awarded for the blocks will be made on a production-sharing basis, the newspaper reports.
Oman’s oil and gas revenues have climbed in 2017 even as its production has decreased.