French firm TotalEnergies and its partners have started gas production from the Mabrouk North-East field in onshore Block 10 in Oman.
Shell operates Block 10 with a 53.45% stake while TotalEnergies and Oman’s national petroleum investment company, OQ, own 26.55% and 20% stakes, respectively.
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By mid-2024, Mabrouk North-East field’s production capacity is anticipated to reach 500 million standard cubic feet per day.
Production from the field will be supplied to the local industry and to liquefied natural gas (LNG) facilities for export through the Omani gas network.
Furthermore, TotalEnergies signed a long-term LNG purchase contract with Oman LNG, whereby the French firm will purchase 0.8 million metric tonnes of LNG per year.
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TotalEnergies said the contract, which has a term of ten years starting from 2025, would contribute to its LNG integrated portfolio and help in addressing the European and Asian markets.
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By GlobalDataTotalEnergies chairman and CEO Patrick Pouyanné said: “These announcements are consistent with the ambition of TotalEnergies to contribute to the energy transition and reinforce its long-standing partnerships with both Oman LNG and the Omani State.
“TotalEnergies deploys in Oman its multi-energy strategy in oil, gas, and renewables, and so participates in the sustainable development of the country’s natural resources.”
In a separate announcement, OQ is planning to divest up to 49% of its stake in its oil drilling unit Abraj Energy Services SAOC in an initial public offering (IPO), reported Bloomberg News.
EFG Hermes, Ahli Bank of Oman, and the National Bank of Oman are serving as joint global coordinators on the IPO.
Abraj Energy Services CEO Saif Al Hamhami was quoted by the news agency as saying: “We believe the company’s future is very bright, not least because it is already prequalified in four countries to conduct a range of services, setting the stage for international expansion geared towards delivering growth and shareholder value.”
