PETRONAS Expands Exploration with Oman Block 18 Acquisition
- PC Oman Ventures Ltd signed a Concession Agreement with Oman for Block 18 exploration.
- Block 18 covers over 21,000 km² in Northeast Oman, offering diverse geological settings.
- PCOVL has been active in Oman since 2018 and holds interest in Block 61.
- The partnership aims to enhance PETRONAS' upstream portfolio with OQEP's regional expertise.
Concession Agreement Signed
PC Oman Ventures Ltd (PCOVL), a subsidiary of PETRONAS, has signed a Concession Agreement with the Government of Oman and OQ Exploration and Production Batinah Offshore LLC (OQEP) for oil and gas exploration in Block 18.
Block 18 Overview
Located in Northeast Oman, Block 18 is a large offshore exploration area spanning over 21,000 km². It offers significant exploration potential across diverse geological settings, ranging from shallow to ultra-deep water.
PCOVL's Presence in Oman
PCOVL has been active in Oman since 2018 and currently holds a participating interest in Block 61. With the new agreement, PCOVL assumes operatorship of Block 18 in partnership with OQEP.
Strategic Partnership
This collaboration builds on a Memorandum of Understanding signed between PETRONAS and OQEP in October 2025. It aims to enhance PETRONAS' upstream portfolio by aligning its offshore exploration capabilities with OQEP's regional expertise.
Source: PCG