December 16, 2018 / 1:22 PM / 8 months ago

Oman signs agreements with Occidental Petroleum on concession areas 51 and 65

DUBAI, Dec 16 (Reuters) - Oman signed on Sunday two agreements with a unit of Occidental Petroleum, covering concessions 51 and 65, the oil ministry of the sultanate said in a tweet.

Oil Minister Mohammed bin Hamad al-Rumhi signed the agreement covering concession 51 with Occidental Oman and the agreement on concession 65 with Occidental Oman and Oman Oil Company Exploration and Production, a unit of state-owned Oman Oil Co, the tweet said, giving no further details.

Oman’s oil output is about 995,000 barrels per day. The sultanate is not a member of the Organisation of Petroleum Exporting Countries but it took part in an agreement reached by OPEC and other exporters earlier this month to reduce global supply in order to bolster oil prices. (Reporting by Maher Chmaytelli; Editing by Elaine Hardcastle)

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