MUSCAT – Oman has invited foreign oil companies to bid for exploration and development rights in six oil blocks around the country, the oil ministry said Tuesday, as it pushes to raise production to 1 million barrels per day. "Two blocks will be awarded next month and the other four will be evaluated in the coming months," a ministry of oil and gas official told Reuters, declining to be named under briefing rules. The total area of the blocks being awarded is around 12,000 square kilometers, the official added, declining to reveal the names of the firms bidding. According to official statistics, Oman currently produces an average 902,000 bpd of oil. Its oil and gas minister Mohammad bin Hamad Al-Rumhy said last year that the non-OPEC producer was aiming for production of 1 million bpd in the next three years. Twenty five international firms are currently exploring for oil and gas in the sultanate under exploration and production-sharing agreements. Moreover, Oman government is set to award two onshore oil and gas blocks for exploration to international oil firms in the Southern Dhofar region next month. The Ministry of Oil and Gas has already finalized the terms and conditions of the deal for the proposed two blocks -" 38 and 66. "Hopefully, we will sign the pact by next month. We are finalising the date for signing the agreement," Dr Saleh A Al Anboori, Director-General of Management of Petroleum Investment, told Times of Oman. Al Anboori also said the ministry will receive bids from multinational oil giants for another four oil blocks, widely spread in the north and centre of the country, by the end of this month. "Thereafter, we will evaluate the bids for shortlisting companies. Then we will see the work program and the technology. We are favoring companies on the basis of best work program in pursuing the block, seismic studies, number of wells going to drill and technical capabilities," he explained. The ministry is compiling data for tendering another seven blocks -" four onshore and three offshore. The offshore blocks are 18, 41 and 59 and onshore blocks are 56, 57, 58 and 43a. – Agencies
