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Article: OMAN - Upstream Operations Abroad.
- Article from:
- APS Review Downstream Trends
- Article date:
- February 13, 2006
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OOC in the early 1990s was keen to enter the upstream sector in Russia and Kazakhstan, as a first step towards acquiring E&P areas in other parts of the world. The objective was to secure a diversified petroleum production base abroad to offset a depletion of Oman's own oil reserves expected to occur in the coming decade or so.
Among upstream projects OOC has joined since the 1990s is a venture for oil and gas exploration, development and production in the 16,000 sq km Atyrau block in Kazakhstan. This has been described as one of the promising areas. But there again, E&P interests held by OOC have not progressed as was originally promised, although the company's ...