Petronas subsidiary secures operatorship of Oman’s Block 18, a large offshore area with significant frontier exploration potential.
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has secured exploration rights for a major new offshore block in Oman. Its wholly-owned subsidiary, PC Oman Ventures Ltd (PCOVL), signed a concession agreement with the Omani government and partner OQ Exploration and Production Batinah Offshore LLC (OQEP) for Block 18.
The large offshore exploration area is located in northeast Oman, spanning more than 21,000 square kilometres. Petronas said the block offers significant frontier exploration potential across diverse geological settings, from shallow to ultra-deep water.
Upon signing the agreement, PCOVL assumes operatorship of Block 18 in partnership with OQEP. The company has been active in the Sultanate of Oman since 2018 and currently holds a participating interest in Block 61.
Petronas vice president of international assets, Mohd Redhani Abdul Rahman, said the partnership aims to unlock the block’s potential. “Through our innovative exploration approaches and OQEP’s basin expertise, we aim to jointly unlock the potential of Block 18, contributing to Oman’s long term energy security,” he said.
He added that the new block aligns with the group’s strategy for disciplined growth. “The addition of Block 18 aligns with our commitment to disciplined portfolio expansion, providing strategic optionality across our international portfolio.”
