DNO ASA subsidiary DNO Oman Block 8 Ltd. has relinquished operatorship and participation in Oman Block 8 to the Oman’s Ministry of Oil and Gas and state-owned Oman Oil Co. Exploration & Production LLC (OOCEP).
“Since inception, Block 8 has produced 35 million bbl of oil and 285 bcf of gas, generating the Sultanate of Oman about $1 billion in total revenues,” said DNO Managing Director Bjorn Dale during the handover ceremony.
Offshore Block 8, which contains Bukha and West Bukha fields, produced an average of 4,458 boe/d during 2018.
Effective Jan. 4, with the expiry of the 30-year commercial term of the exploration and production-sharing agreement, Block 8 will be operated by the Musandam Oil & Gas Co., fully owned by OOCEP.
DNO held a 50% interest in the license alongside LG International, which held the remaining interest.
