Oman Opens Five New Oil and Gas Concession Blocks for International Investment

Oman’s Ministry of Energy and Minerals has launched a new bidding round for five oil and gas concession areas offering significant opportunities for local and international investors to develop the country’s hydrocarbon resources. The initiative forms part of a broader strategy to enhance resource utilization and support sustained growth within the energy sector while aligning with Oman Vision 2040’s economic diversification goals.

The five concession blocks numbered 12 16 55 42 and 45 are strategically distributed across diverse geographical regions with promising geological potential. Blocks 12 and 16 are located in the Greater Barik Area in central Oman covering areas of 5050 square kilometers and 4496 square kilometers respectively. Block 55 spans 7564 square kilometers in the Eastern Flank Province while Blocks 42 and 45 are situated in the Sharqiyah Sands Basin and surrounding areas covering 30682 square kilometers and 5483 square kilometers respectively.

Registration for the competitive tender has officially opened and will remain available until September 30 2026. The Ministry confirmed that final results will be announced following a comprehensive technical and financial evaluation of all submitted proposals. Companies interested in participating have been invited to review tender details through the official portal which includes reviewing available opportunities registering interest and submitting required documentation.

The offering represents the Ministry’s commitment to fostering a transparent and competitive investment environment that attracts high-quality investments facilitates the deployment of advanced technologies and maximizes in-country value across the energy sector. By opening new acreage the government aims to strengthen partnerships with international energy companies while maintaining momentum in upstream exploration and production activities.

This latest development follows the recent signing of a concession agreement in February between the Ministry and a joint venture of OQ Exploration and Production and Malaysian group Petronas for offshore block 18 in the Sea of Oman covering a 21000 square kilometer area. The move reinforces Oman’s positioning as a stable and attractive destination for energy investment with a policy framework centered on transparency efficiency and long-term sustainability.

According to the Organization of the Petroleum Exporting Countries Oman had 4.97 billion barrels of proven oil reserves in 2024 making it the seventh-largest in the Middle East. While not an OPEC member Oman remains an ally through the OPEC+ organization and continues to play a significant role in regional energy markets.

The Ministry emphasized that this initiative reflects its ongoing approach to optimize hydrocarbon resource management while ensuring sustainability and supporting national economic growth. The bidding round is expected to attract significant international interest as companies seek to capitalize on Oman’s geological potential and stable investment climate.