twitter linkedinfacebookacp contact us

Shell sells stakes in Mukhaizna asset in Oman to IndianOil

Industry

Shell Overseas Holdings Limited has announced the sale of Mukhaizna asset in Oman to IOCL Singapore PTE Ltd (ISPL), a subsidiary of Indian Oil Corporation Limited (IndianOil), for an amount of US$329mn

The Mukhaizna oil field, located in Al Wusta Governorate in Oman, is being operated by Occidental Mukhaizna LLC.

Under the terms of the agreement, IndianOil’s stake in Mukhaizna will be 17 per cent. The remaining portion will be owned by Occidental Mukhaizna LLC (45 per cent), Oman Oil Company SAOC (20 per cent), Liwa Energy Limited (15 per cent), Total E & P Oman (two per cent) and Partex (Oman) Corporation (one per cent).

The move is expected to enhance the upstream oil and gas activities in Oman. This is in line with the Oman government’s initiative to boost oil and gas resources in the country.

IndianOil is an integrated energy company which is in the business of oil, gas, petrochemicals. With the new move, the company aims to expand its reach outside India and explore oil and gas opportunities in the Middle Eastern countries.

Shell said that it is actively seeking to make further investments to develop oil and gas industry in Oman. The move to divest its stakes in Mukhaizna asset is in accordance with the company’s strategy to sell non-core assets or companies to re-shape Shell into a more resilient and focused company.

The sale of Mukhaizna asset takes Shell a step closer to its divestment target of US$30bn, said the company.

The oil and gas industry has been increasingly adopting AI technology in recent years, and this trend is expected to continue in the coming years. (Image source: Adobe Stock)

SmartMaster can be used with a range of ABB and third-party instruments. (Image source: ABB)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

ARO Drilling and IMI announce first Kingdom jack up rig (Image source: ARO)

Oman LNG signed various agreements with Shell Gas to secure its gas supply until 2034. (Image source: Adobe Stock)

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

Michael Monica, director sales, marketing and customer care at GPT Industries signs the agreement with Mohamed Altaf, sale manager, Abdulla Fouad Energy Services. (Image source: Alain Charles Publishing)

Amin H. Nasser, CEO of Aramco. (Image source: Aramco)

The system can activate notification and hazard mitigation equipment to notify workers and safeguard facilities. (Image source: MSA Safety)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

The new discoveries will bolster Aramco’s strategy to increase gas production by more than half over 2021 levels, through 2030. (Image source: Adobe Stock)

Tethys Oil is currently conducting final preparations ahead of the rig mobilisation for the drilling of the first exploration well on Block 58, Kunooz-1 in Fahd.

Source: SafeStart

The new technology is designed to address the challenging conditions in unconventional wells. (Image source: Adobe Stock)

The Ampelmann A-type enabling safe offshore access in the Middle East. (Image source: Ampelmann)

Aramco has produced the first unconventional tight gas from its South Ghawar operational area ahead of schedule. (Image source: Adobe Stock)

Tethys Oil is currently conducting final preparations ahead of the rig mobilisation for the drilling of the first exploration well on Block 58, Kunooz-1 in Fahd.

TotalEnergies and SONATRACH will develop gas resources in Algeria's north-east Timimoun region, (Image source: Adobe Stock).

By using analytics to augment and empower the workforce, pipeline operators can optimise operations and improve asset availability. (Image source: Adobe Stock)

The oil price is hovering around the US$90/bbl mark. (Image source: Adobe Stock)

The Craig International Qatar team. (Image source: Craig International)

The SuperFill II diverter reduces induced surge pressure. (Image source: Halliburton)

Among other services, KBR will offer proprietary equipment for NCIC's 1,200 metric tonnes per day ammonia plant. (Image source: Adobe Stock)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

ADNOC Gas recorded robust financial and operational results in 2023. (Image source: Adobe Stock)

Over 4,000 km of SoluForce pipe has been installed around the world. (Image source: SoluForce)

Block 56 is targeted for commercialisation in 2024. (Image source: Canva)

The programme will optimise asset lifecycle, enhance machinery performance and improve overall reliability. (Image source: Adobe Stock)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

Source: SafeStart

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

The company is well positioned in 2024, with a reshaped and resilient business and a strong balance sheet. (Image source: Adobe Stock)

The vessel addresses the growing demand for accurate hydrographic data. (Image source: Fugro)

The virtual inhouse seismic processing centre will allow each of the decentralised business units of Wintershall Dea globally to collaborate efficiently and directly with DUG. (Image source: Adobe Stock)