E&P

a planned 3D seismic survey and exploration and appraisal program is expected to advance the development of the new resources by the end of 2028. (Image source: Adobe Stock)

Masar Petroleum SAOC, a leading Omani oil and gas exploration and production company, has announced a major discovery in the Hasirah Ridge in Block 7, Sultanate of Oman

The Block 7 concession area spans approximately 2,300sq km in Al Wusta Governorate, central Oman and is operated by Masar Petroleum, which holds a 100% stake. The company started producing from the Hasirah reservoir in 2017.

Masar Petroleum has now successfully drilled a new exploration well south of its existing discoveries, validating the concept of the Hasirah Ridge, a geological trend 5km wide and 30 km long mapped across Block 7 using 2D seismic data. This discovery represents the critical first step toward unlocking the Ridge’s prospective resource base of 100 to 380 million barrels.

A 3D seismic survey and exploration and appraisal program is now going to be conducted, to advance the development of the new resources by the end of 2028.

First production from this field is expected to be on stream during the last quarter of the year. Masar Petroleum plans to rapidly advance appraisal and development opportunities across Block 7, with a view to accelerated growth.

“Masar is a proud Omani E&P company that has delivered significant value through a continuous and focused effort on unlocking our potential,” said Abdulsattar AlMurshidi, chief executive officer of Masar Petroleum.

Oman is looking to boost exploration and production to grow the contribution of oil and gas to the economy. (Image source: Oman Ministry of Energy & Minerals)

Oman’s Ministry of Energy and Minerals has announced the offering of five concession areas in the oil and gas sector for competitive bidding to local and international petroleum companies

The five concession areas are distributed across a wide geographical area and have significant geological potential, according to the Ministry. They are as follows:
· Blocks 12 and 16: Located in the “Greater Barik Area” in central Oman, covering areas of 5,050 sq km and 4,496 sq. km respectively.
· Block 55: Located in the “Eastern Flank Province”, spanning an area of 7,564 sq. km.
· Blocks 42 and 45: Located in the “Sharqiyah Sands Basin” and surrounding areas, with Block (42) covering 30,682 sq. km and Block (45) covering 5,483 sq. km.

The Ministry explained that the application process goes through several stages, including reviewing the available opportunities, registering and submitting the required documents, obtaining the technical data, and then submitting proposals through the designated platform before the deadline. Companies interested in participating can review the tender details through the tender website via the QR Code. Registration will commence on 12 April 2026 and continue until 30 September 2026, with results to be announced following the completion of the technical and financial evaluation of the submitted bids.

The Ministry affirmed that the bid round is part of its ongoing approach to enhancing the investment environment and improving transparency, thereby contributing to attracting quality investments, strengthening international partnerships, transferring modern technologies, and maximising the added value of the oil and gas sector, while supporting sustainability and enhancing the sector’s contribution to the national economy, in line with the objectives of Oman Vision 2040.

The launch of the bid round follows the signing of a concession agreement in February between Oman's Ministry of Energy and Minerals and a joint venture of OQ Exploration and Production and Malaysian group Petronas for offshore block (18) in the Sea of Oman covering a 21,000 sq km area, which offers significant frontier exploration potential across diverse geological settings, from shallow to ultra-deep water.

Several new discoveries have been reported in Libya. (Image source: Adobe Stock)

Libya’s National Oil Company (NOC) has reported three new discoveries

Firstly, the NOC and Eni North Africa, the operator of Contract 4/16, have made a new discovery in offshore western LIbya, around 95 km from the coast, following successful drilling of the exploration well J1-4/16.

Drilling was completed to a final depth of 10,458 feet. Tests of the Metlawi reservoir produced flow rates across two tests: 14 million cubic feet per day (MMcf/d) through a 32/64-inch choke in the first test, and 24 MMcf/d through a 62/64-inch choke in the second.

This well is the final one in fulfilling nine contractual obligations for offshore Contract Block D, as stipulated in the agreement signed in June 2008.

The NOC and Repsol Libya Branch (REMSA) have reported a new oil discovery following the drilling of the exploratory well “J1-4/130” in Contract Area “131/130” in the Murzuq Basin, around 800 km south of Tripoli. The well reached a final depth of 4,325 feet and is producing an average of 763 barrels of oil per day from the Mummiyat Formation.

This well is the fifth of the company’s eight contractual commitments under the Exploration and Production Sharing Agreement (EPSA) signed between the NOC and REMSA in 2008.

The NOC and Sonatrach Petroleum Exploration and Production Corporation Libya Branch (SIPEX), the operator of Contract Area 95/96 in Libya’s Ghadames Basin, have made a new oil and gas discovery following the drilling of the A1-69/02 exploration well, located 70 km from the Wafa field.

The well was completed to a final depth of 8,440 feet and is delivering production rates of 13 million cubic feet of gas and 327 barrels of condensate per day from the Awynat Wanin and Awyn Kaza formations.

This is the sixth well drilled by Sonatrach out of eight planned under the Exploration and Production Sharing Agreement (EPSA) signed in May 2008 between NOC and Sonatrach.

As reported in the Libya Herald, the chairman of the NOC, Masoud Suleiman, affirmed that the new discoveries made in the Murzuq and Ghadames basins, as well as the offshore area, reflect the significant potential of Libya’s oil and gas sector and support the NOC’s strategic directions in developing its hydrocarbon resources. He stressed the NOC’s commitment to continuing exploration activity to increase reserves and production.

The discoveries follow two earlier discoveries by Eni reported in mid-March, together estimated at around one trillion cubic feet, approximately 85 km off the coast, and 16 km south of the Bahr Essalam gas field, Libya’s largest offshore field. These discoveries are projected to add about 130 million cubic feet of gas per day, boosting the NOC’s capacity to meet both domestic and international market demands and helping to address any gas supply shortages.

“This discovery highlights the promising potential of Libya’s offshore basins and continues the NOC’s efforts to boost production rates and develop the country’s natural resources,” the NOC commented.

The discovery offers the potential for fast-track investment. (Image source: Adobe Stock)

Eni has made a significant gas and condensate discovery in Egypt, with the successful drilling of the Denise W 1 exploration well in the offshore Temsah Concession in the Eastern Mediterranean

Preliminary estimates indicate about 2 trillion cubic feet (Tcf) of gas initially in place (GIIP) and 130 Mbbl of associated condensates.

The Denise W discovery lies 70 km offshore in 95 m of water depth and less than 10 km from existing infrastructure, offering potential for a fast-track development. It features a gas-bearing sandstone reservoir of excellent quality with about 50 m of net pay, similar to the nearby Temsah field.

The drilling of Denise W-1 follows the agreement signed in July 2025 with EGPC and EGAS for a 20-year renewal of the Temsah Concession. Eni operates the Denise Development Lease of the Temsah Concession with a 50% contractor working interest, with bp holding the remaining 50%. The asset is operated through Petrobel, the joint venture operating company between Eni and EGPC.

“The discovery reinforces Eni’s commitment to supporting Egypt’s national goals of boosting reserves and increasing gas production, thereby strengthening the country’s energy security. Also, this new discovery confirms Eni’s successful strategy in substantially rejuvenating producing assets through near-field and infrastructure-led exploration,” Eni said in a statement. In a meeting on the sidelines of the Egyptian Energy Show, the company is reported to have committed to invest US$2bn in Egypt’s energy sector this year.

Eni has been active in Egypt since 1954 and today holds a diversified portfolio spanning exploration, development, and production, with oil and gas production of 242,000 boed equity in 2025. Eni is the operator of Egypt’s largest gas field, Zohr.

The discovery will have come as music to the ears of the Egyptian government, which is encouraging investment and incentivising exploration and production to reverse years of decline and reduce energy imports, a drive which is being given additional impetus by the current situation in the Middle East. These efforts seem to be paying off, with a number of promising discoveries being made recently. This year, Dragon Oil announced a new oil discovery following the successful drilling of the South El Wasl ‘B.B2’ exploration well in the Gulf of Suez, with initial results indicating production rates above 2,000 bpd of oil. While US Apache, in collaboration with the Egyptian General Petroleum Corporation (EGPC), has made a new natural gas discovery in the Western Desert, following the drilling of the SKAL-1X exploratory well in the South Kalabsha area, with initial test results indicating a daily production rates of approximately 26 million cubic feet (mmcf) of natural gas and 2,700 barrels of condensate. Last December, Dana Gas made a significant gas discovery following the drilling of the North El-Basant 1 exploratory well in Egypt’s onshore Nile Delta, which indicated the presence of estimated reserves of 15-25 bn cu/ft of gas, with production potential of more than 8 mn cu/ft per day once the well is connected to the national network.