• Oman

    • Inauguration of Bisat oil field at Block 60 Concession on Thursday

    By on January 23, 2023

    Muscat: HH Sayyid Taimur Asa’ad Al Said, Chairman of the Board of Governors of the Central Bank of Oman (CBO) will patronize over OQ’s Bisat oil field inauguration on 26 January 2023.Bisat oil field is one of the most important projects of OQ’s upstream sector.

    The field, which is located in concession area No. 60 at Abu Tubul, utilizes cutting-edge technologies and digital solutions to enhance the long-term sustainability of the resources and operations and maximize the revenues and the return on investment. The in-country value for the Bisat oil field project reached RO 157 million.

    In addition, the total amount spent on local SMEs and contractors stood at RO 34 million of the overall cost of the project. Products manufactured in Oman accounted for RO 60 million of the total procurement of the project.

    The project has also created direct and indirect opportunities for Omani youth, resulting in a high overall Omanization rate of 85% of the group’s employees working in concession area No. 60.

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