Thursday, March 28, 2024 | Ramadan 17, 1445 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Sultanate to sign 4 oil concession agreements

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MUSCAT: The Ministry of Oil and Gas will sign four agreements with oil companies for concession areas, on Tuesday. The agreements will be signed with Oman Oil Company Exploration and Production (OOCEP), Occidental Oman for concession area No 30.


Another agreement will be signed with ARA Petroleum for the concession area No 31. The third agreement will be signed with Tethy’s Oil Oman Limited for the concession area No 49. The fourth agreement will be signed with INA of Italy and OOCEP for the concession area No 52.


Meanwhile, Dubai Mercantile Exchange (DME) said that Oman oil price for January reached $61.78.


The DME statement said that the price of Oman oil declined 51 cents from the price of Tuesday, which was $62.29.


The average price of Oman oil for November delivery has stabilised at $54.02, thus $3.63 per barrel higher than October delivery.


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