Oman’s Energy and Minerals Ministry on 12th April 2026 initiated a new bidding round for five oil and gas exploration blocks, marking a significant step in expanding upstream opportunities across the Sultanate. The offering includes Blocks 12 and 16, which extend over 5,050 square kilometers and 4,496 sq km respectively within the Greater Barik Area in central Oman, according to a press release issued by the ministry. Additional oil and gas exploration blocks, namely Blocks 42 and 45, cover 30,682 sq km and 5,483 sq km respectively in the Sharqiyah Sands Basin and nearby regions. Meanwhile, Block 55 encompasses 7,564 sq km in the Eastern Flank Province. The ministry confirmed that registration for these opportunities will close on 30th September 2026, after which submitted proposals will be subject to technical and financial evaluation.
The release of these oil and gas exploration blocks is aimed at strengthening Oman’s engagement with international energy companies while remaining accessible to domestic participants.
In outlining the rationale behind the offering, the ministry stated, “The ministry affirmed that the offering of these areas comes as part of its ongoing approach to enhancing an attractive investment environment based on the principles of transparency and equal opportunities, thereby contributing to attracting quality investments, transferring modern technologies, and maximizing the added value of the oil and gas sector”. This initiative reflects a continued effort to balance competitiveness and collaboration in the country’s hydrocarbon sector.
According to the latest “Annual Statistical Bulletin” of the Organization of the Petroleum Exporting Countries (OPEC), Oman reported 4.97 billion barrels of proven oil reserves in 2024, ranking as the seventh-largest in the Middle East. Although not a member, Oman maintains alignment with OPEC through the OPEC+ organization, reinforcing its position within the broader energy landscape.
