MALABO (Pakistan Point News / Sputnik - 29th November, 2019) Oman studies the possibility for Russia's Zarubezhneft oil company to participate in the development of an Omani offshore oil block, and will make a decision soon, Oil Minister Mohammed Rumhi has said, specifying that Zarubezhneft may secure up to 75 percent in the project.
"It's an oil offshore [project], we want to hand over the block to them for further development ... We [are] evaluating. We should make a decision very soon," Rumhi told reporters.
The block is quite big, but production currently reaches from 3,000 barrels per day to 5,000 barrels per day, according to Rumhi's estimate. Oman, therefore, wants Zarubezhneft to conduct supplementary exploration, the minister specified.
"Zarubezhneft might get a share [in the block] of up to 75 percent, Oman Oil Co [Company] � up to 25 percent," Rumhi said, when asked about the Russian company's share in the project.
Russia's Kommersant newspaper reported in September that Zarubezhneft was negotiating the possibility to enter Oman's oil and gas projects with the country's government.
