By OGJ editors
HOUSTON, Apr. 7 -- Oman has awarded a production-sharing contract (PSC) to a group led by Occidental Petroleum Corp. for Block 54, a 5,620 sq km area in southeastern Oman.
The PSC area is adjacent to Block 53, about 500 km southwest of Muscat, where Oxy operates Mukhaizna oil field, Oman's sixth largest field. Block 53 is judged to have 2.4 billion bbl of 16-18° gravity original oil in place, from which Oxy hopes to recover 1 billion bbl with a large steamflood (OGJ, Aug. 1, 2005, p. 33).
Occidental will operate Block 54 and hold a 70% interest. Mitsui E&P Middle East BV and Liwa Energy Ltd. will participate with 15% each. Liwa Energy is the oil and gas subsidiary of Mubadala Development Co., which is owned by the Abu Dhabi government.
