Oman has opened bids for exploration and production (E&P) in the new concession areas, which were floated in 2017, Undersecretary of the Ministry of Oil and Gas, Salim bin Nasser Al Oufi, stated after patronizing over Petroleum Development Oman (PDO)’s celebration of the Omani Environment Day, Times of Oman reported.

The Omani ministry is following up on relevant developments, Al Oufi said, explaining that the bids will be analyzed in February and initial negotiations will kick off in March 2018, Oman Observer informed.

Al Oufi further announced that several firms have showed interest in exploring the Omani new concessions and hoped that some of the agreements for these concessions would be signed before the end of 2018.

“The Sultanate will also host the seventh meeting of the Joint Committee of OPEC (Organization of the Petroleum Exporting Countries) and Non-OPEC members on January 21, 2018,” Al Aufi pointed out.