Occidental Awarded Block in Oman

Source: www.gulfoilandgas.com 4/4/2006, Location: Middle East

Occidental Petroleum Corporation has awarded a new production sharing contract area, Block 54, in southeastern Oman immediately adjacent to Block 53 where Occidental operates the giant Mukhaizna Field. Occidental will operate Block 54 and hold a 70 percent interest. The Block 54 contract area is approximately 5,620 square kilometers.

Mubadala and Mitsui will join Occidental as partners in Block 54, each holding a 15 percent interest. Mubadala is the investment and development company wholly owned by the Government of the Emirate of Abu Dhabi, and will participate through Liwa Energy Ltd., its oil and gas subsidiary. Mitsui will participate through its Mitsui E&P Middle East B.V. subsidiary.

Occidental has been active in Oman since 1979 and currently has production operations in Blocks 9 and 27 in the northwestern region of the country, as well as in the Mukhaizna field, one of the largest oil fields in Oman.


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