Oxy Oman, a wholly owned subsidiary of U.S Occidental Petroleum (Oxy), has secured a 15-year extension of its Exploration and Production Sharing Agreement (EPSA) for the onshore Block 53 in south-central Oman, where it operates the Mukhaizna field, the largest producing oil field in the country.
The extended period of the agreement involves drilling activities and implementing enhanced oil recovery projects across various reservoirs to increase the total estimated recoverables of oil by 800 million barrels (mmbbls). The agreement also entails the utilization of artificial intelligence (AI) to optimize steam flood patterns to boost hydrocarbon recovery.
“We are proud of the deep roots, strong relationships, and mutually beneficial partnerships we have built in Oman over the past several decades. These partnerships have been central to our shared success, including recent exploration achievements, and that momentum continues to build,” said Vicki Hollub, President and Chief Executive Officer (CEO) of Oxy.
Oxy Oman first signed the EPSA with Oman in 2005. Since then Oxy has increased production in the Mukhaizna field to reach over 640 mmbbls. It also operates 3,500 wells in Block 53.
Alongside the Mukhaizna field, Oxy holds major operations in northern Oman; particularly in Safah and Wadi Latham fields (Block 9), Khamilah field (Block 27), and Muradi Huraymah gas plant (Block 62), in addition to the Mukhaizna field (Block 53).
