Oman leans towards bilateral awards
The sultanate’s drawn-out bid round is ending in a whimper as breakout gas contracting discussions take priority
Oman’s future licensing rounds are likely to be replaced with direct negotiations unless more enticing acreage is to be carved out of its former block 6 area, after a single award in its most recent bid round. In early July 2020, Sweden’s Tethys Oil was confirmed as the sole winning bidder in its 2019 licensing round. The firm—which is an Omani success story, already holds stakes in blocks three and four (30pc), 49 (100pc) and 56 (20pc) and has previously sought to expand this footprint further—has been awarded block 58, which covers 4,557km2, spanning the western flank of the South Oman Salt Basin and the Western Deformation Front. Launched last February, the bid round covered five previous
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
