Oman elaborates the oil oxidantal concession to 2050 with investments of $ 30 billion

The Omani Ministry of Energy and Minerals until 2050 the ‘franching no. 53 ‘Agreement with the US “Oxidental Petroleum” business and its partners expanded, according to a statement published today by the Omani News Agency. The field of “Michazneh”, the location of the site today, is located in the central governor of Oman, and it is the highest production of crude oil daily in the country. Oman’s oil revenue is four times more than natural gas, but the situation has changed with the direction of gas project investments in light of the high global fuel demand. The new agreement includes the extension of the franchise until the year 2050, enabling the pump investments at 11.5 billion rows (equivalent to $ 30 billion) during this period, and it contains capital and operating expenses aimed at applying the efficiency of productive processes and applying the latest extract technology to increase the benefit of the region. Oman’s sultanate is considering selling part of the natural gas assets worth approximately $ 8 billion, as part of the sultanate’s attempt to increase liquidity to support state financial resources and finance investments, according to Bloomberg. Investments are expected to contribute to supporting the sustainability of the supply chain and contracts related to operational operations, in a way that supports economic activity, and offers new jobs in oil, gas and support industries. Salem Bin Nasser Al -awfi, Omani Minister of Energy and Minerals, which is today released, is considering that the volume of the expected investments will contribute to the development of production and the added value of the energy sector in Oman.