Malaysian Petronas is close to buying a 10% stake in Oman’s al Khazzan gas field from the state-owned Oman Oil Company.

The Oman Oil Company Exploration and Production (OOCEP) finalized an agreement for a $1 billion loan.

Royal Dutch Shell signed a heads of agreement to work on Block 42 in Oman.

OOCEP has announced three significant oil and natural gas discoveries in Block 60.

Omani firms are increasingly venturing into upstream oil and gas exploration and production (E&P) sector as operators, long regarded as the exclusive preserve of international players, a senior official at the Ministry of Oil&Gas informed.

Oman Oil's exploration and production division mulls investments worth $4 billion over the next five years to boost its oil output up to 200,000b/d in 2020.

Petrofac has added to its global operations and maintenance portfolio with the announcement of a new agreement, worth US$50 million, with Oman Oil Company Exploration and Production LLC (OOCEP).