Oman Strikes Oil and Gas Discoveries in Block 60

Oman Strikes Oil and Gas Discoveries in Block 60

Oman Oil Company Exploration and Production (OOCEP), the upstream arm of the government-owned energy investment firm Oman Oil Company (OOC), has announced three significant oil and natural gas discoveries in Block 60, according to Oman Daily Observer.

OOCEP has discovered the first oil in Bisat field, additional light oil was found in ABB south, and natural gas was discovered in ABB North. The exploration program is considered to be of a huge success in 2016, Times Of Oman reported.

OOCEP, Executive Managing Director, Dr. John Malcolm said “The Bisat oil discovery in block 60 has opened up a new play fairway trend in the western margin of the Oman petroleum basin and could help unlock additional oil resources in the block and vicinity”.

Moreover, OOCP, Vice President, Eng. Saif al Khayari  said “We will continue this growth by targeting nearly 100,000 boe/d from operated and non-operated assets”.

Bisat field was appraised by drilling two horizontal wells revealing oil rates in excess of 1,000 b/d of light oil. The field is located 35km north from the production facilities. This is a significant discovery that added to OOCEP’s resource base and provided future growth opportunity. It worth noting that OOCEP is currently finalizing its development plan for its first oil production, leveraging on its existing production facilities.

Mahinaz El-Baz 312 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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