PETRONAS secures concession for Oman’s offshore Block 18

PETRONAS subsidiary PC Oman Ventures (PCOVL) signed a concession agreement with the Government of the Sultanate of Oman and OQ Exploration (OQEP) and Production Batinah Offshore to explore oil and gas in Block 18.

Block 18 is an offshore exploration area in northeast Oman covering more than 21,000 sq km and includes geological settings ranging from shallow to ultra-deep water. Under the agreement, PCOVL will assume operatorship of the block alongside OQEP.

The concession follows a memorandum of understanding signed between PETRONAS and OQEP in October 2025 and is intended to expand PETRONAS’ upstream exploration portfolio while strengthening cooperation with Omani partners.