Oman’s OQ Celebrates Inauguration of Bisat Oil Field

Muscat: ‎OQ Group today inaugurated the commissioning of Bisat oil field located at Block 60 concession area. The ceremony was held at Oman Convention and Exhibition Centre (OCEC).

The event was held under the patronage of HH Sayyid Taimur Asa’ad al Said, Chairman of the Board of Governors of the Central Bank of Oman (CBO).

The Bisat oil field comes as part of OQ’s contribution to supporting the government’s efforts to maximize the use of Omani natural resources and enable national companies to manage operations in the oil exploration and production sector. This resulted in raising OQ’s share of the total oil production in the Sultanate of Oman to 220,000 barrels per day, which represents about 13% of the upstream sector’s contribution to the gross domestic product (GDP) of Oman.

Talal Hamed Al Aufi, Chief Executive Officer of OQ Group, said: “Inaugurating Bisat oil field represents a quantum leap in exploration operations, as the focus shifted to the production of crude oil. The field recorded production growth rates from 5,000 barrels per day in 2019 to 55,000 barrels per day by 2022. Today, the Group celebrates a production increase that reached 60,000 barrels per day.”

He added that: “The Bisat oil field is one of the most important projects of OQ’s upstream sector and Oman Investment Authority’s (OIA) national development portfolio. It comes as part of OQ’s efforts to promote the added value of Oman’s natural resources, support development plans, boost revenues and achieve the objectives and aspirations of Oman Vision 2040. The project applies modern technologies and digital solutions to enhance the sustainability of resources and operations.”

Al Aufi pointed out that: “This project contributes to enhancing the company’s position and reputation among oil field developers in the Sultanate of Oman. This in turn bolsters the government’s confidence in our ability to develop other oil fields. It will also allow us to create job opportunities for our local communities and support nation building efforts, one of the key goals of Oman Vision 2040.”

He elaborated: “The In-Country Value (ICV) for the Bisat oil field project reached about RO 157 million. In addition, the total amount spent on local SMEs and contractors logged 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 (85%) of the group employees working in concession area No. 60.”

The CEO of OQ Group said: “The Bisat oil field applies advanced technologies and modern solutions such as the fabricated designs of production stations. This contributed to accelerating the production after two years only following the discovery of the field. As a result, the return of investment was maximized within a record time. This reflects the efficiency of the strategy that has been adopted to accelerate production using the latest technologies, increase outstanding levels of national competencies working in the field and the assiduous efforts exerted to support the targets and visions of our national economy.”

OQ Group adopted and implemented plans and systems that contributed to neutralizing the carbon footprint and promoting sustainability values. To this end, the Bisat oil field used new innovative technologies to monitor carbon emissions, gas levels, flaring and energy efficiency for the first time in the Sultanate of Oman. Moreover, the exploration and production arm of OQ used non-metal pipes that have a longer shelf life compared to conventional metal pipes. These pipes could be fixed promptly and flexibly. This resulted in reducing the risks related to the construction works and accelerating the operations pace.

HH Sayyid Taimur Asa’ad al Said, Chairman of the Board of Governors of the Central Bank of Oman (CBO) toured the exhibition that was held on the sidelines of the inauguration ceremony. This exhibition showcased the stages of Bisat oil field’s development. He was also briefed about the potentials of the field and the technologies used in it. – ONA

more recommended stories

Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.