IOC stalwarts deliver Omani gas boost
Shell and TotalEnergies have agreed to execute a major integrated development and bought into the government’s gas-led strategy
Two of Oman’s oldest IOC partners, Shell and TotalEnergies, delivered a momentous boost to the sultanate’s gas ambitions at the end of last year by signing up to develop known reserves in the centre of the country. The latest agreement—the significance of which is both practical and symbolic—follows several recent fillips for Oman’s previously sluggish gas sector, representing grounds for optimism for the country’s economic resilience as its oil industry heads into terminal decline. Crucially, the majors also agreed to utilise production in new downstream businesses consistent with the sultanate’s efforts to decarbonise its bedrock energy sector. When European majors in particular are optimi
Also in this section
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them