Norwegian oil and gas operator DNO has relinquished operatorship and participation in Block 8 offshore Oman.
DNO said last Thursday that its subsidiary DNO Oman Block 8 Limited relinquished operatorship and participation of the block to the Sultanate of Oman’s Ministry of Oil and Gas (MOG) and state-owned Oman Oil Company Exploration and Production (OOCEP).
A handover ceremony was held in Muscat in the presence of MOG Undersecretary Salim Al Aufi , and representatives from DNO, MOG, OOCEP, and license partner LG International.
During the handover ceremony, DNO’s managing director Bjørn Dale said: “Since inception, Block 8 has produced 35 million barrels of oil and 285 billion cubic feet of gas, generating the Sultanate of Oman about $1 billion in total revenues.”
Offshore Block 8, which contains the Bukha and West Bukha fields, produced an average of 4,458 barrels of oil equivalent per day during 2018.
Starting from Friday, January 4, with the expiry of the 30-year commercial term of the exploration and production sharing agreement, Block 8 is operated by the Musandam Oil and Gas Company, fully-owned by OOCEP.
It is worth noting that DNO held a 50 percent interest in the license alongside LG International, which held the remaining 50 percent interest.