DNO Oman Block 8 Limited, the subsidiary of the Norwegian firm DNO ASA has handed over its stakes in the operation and participation of Block 8 to the Sultanate of Oman’s Ministry of Oil and Gas (MOG) and state-owned Oman Oil Company Exploration and Production LLC (OOCEP) as expiration of commercial term of the exploration and production sharing agreement, reports say.
“Since inception, Block 8 has produced 35 MMbbl of oil and 285 Bcfg, generating the Sultanate of Oman about $1 billion in total revenues,” said DNO’s Managing Director Bjørn Dale during the handover ceremony in the Omani capital, Muscat on Thursday.
DNO Oman Block 8 Limited operated Block 8 for 30 years. Block 8 which includes the Bukha and West Bukha fields, off the Musandam peninsula, according last year figures produced an average of 4,458 barrels of oil per day.
Musandam Oil and Gas Company fully controlled by the OOCEP will take over from Jan. 04.
DNO held a 50 percent interest in the license alongside LG International, which held the remaining 50 percent interest.
The Norway-registered company is one the largest producers of oil in Iraq’s Kurdistan region and also holds licenses in Norway, the United Kingdom and Yemen.
Oman: Norwegian DNO ASA hand over Block 8 operation
