DNO ASA, the Norwegian oil and gas operator, today announced that its subsidiary DNO Oman Block 8 Limited has relinquished operatorship and participation in Oman Block 8 to the Sultanate of Oman’s Ministry of Oil and Gas (MOG) and state-owned Oman Oil Company Exploration and Production LLC (OOCEP).
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“Since inception, Block 8 has produced 35 MMbbl of oil and 285 Bcfg, generating the Sultanate of Oman about $1 billion in total revenues,” said DNO’s Managing Director Bjørn Dale during the handover ceremony.
Effective Jan. 4, 2019, with the expiry of the 30-year commercial term of the Exploration and Production Sharing Agreement, Block 8 will be operated by the Musandam Oil and Gas Company, fully-owned by OOCEP.
DNO held a 50% interest in the license alongside LG International, which held the remaining 50% interest.
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