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.
Omani Ministry of Oil and Gas has set an output limit on producers in Oman. The 45,000b/d output cut will be shared by the Sultanate’s oil producers on a pro-rate basis.
Inline with OPEC's production reduction agreement, Kuwait has cut output by 130,000b/d to about 2.75mb/d. While, Oman was to cut 45,000b/d from its 1.01mb/d.
Oman is expected to cut oil output by 45,000b/d. This is about 4.5% of its 1mb/d day production, to honor the agreement with the Organization of Petroleum Exporting Countries (OPEC).