Russian oil giant Lukoil is targeting new projects in the United Arab Emirated (UAE), Iran, Oman and Kuwait as it plans to expand its operations in the Middle East.
Non-OPEC producer Oman intends to pump an average of 1mb/d in this 2017, despite the 45,000b/d production cut it had pledged with the OPEC-non-OPEC deal.
The implementation of a plan to build an undersea gas pipeline to export Iran’s gas via Oman Sea and Indian Ocean to India is imminent, according to South Asia Gas Enterprise Pvt Ltd’s (SAGE) Project Director, Ian Nash.
Tehran and Muscat signed a preliminary agreement for a major offshore pipeline project to supply Iranian natural gas to Oman, with top European and Asian companies reportedly in line to implement the project.
Oman’s Ministry of Oil and Gas has signed an Exploration and Production Sharing Agreement (EPSA) with Oman Oil Company Exploration and Production (OOCEP) for Block 48, located between Al Wusta and Al Dhahira regions.