Kistos’ assets comprise three onshore oil and gas licence blocks, the gross production of which accounts for approximately 6% of Oman’s total daily output. Kistos holds a 5% working interest in Block 9 and a 20% working interest in Blocks 3 & 4, all of which have a long field life extending beyond 2050. The blocks produce a range of crude qualities, including relatively light, high-API crude from certain reservoirs, which achieve attractive pricing.
Oman is one of the largest oil-producing countries in the Middle East outside OPEC and remains a participant in the OPEC+ framework. It is also widely regarded as a stable and established jurisdiction for international oil and gas investments.
The local industry is supported by its transparent EPSA (Exploration and Production Sharing Agreement) framework, which governs agreements between energy companies and the Sultanate of Oman and sets the terms and conditions for oil production and exploration. The conditions include percentages for cost recovery, profit sharing, and tax.
Block 9 (acquisition subject to completion)
Status: In production
Block 9 (Suneinah) covers approximately 4,000 km² in northwestern Oman and comprises the Safah and Wadi Latham producing areas. More than 300 exploration leads have been identified across the block, representing gross exploration potential of approximately 1.9 billion barrels. The current EPSA runs to 2030, with potential for a future licence extension.
Operator Occidental continues to apply enhanced oil recovery and reservoir-management technologies across Block 9. In 2023, Occidental launched a CO₂ enhanced oil recovery pilot at the Safah field, evaluating the use of injected CO₂ to increase recovery from mature reservoirs while also assessing the potential for associated long-term carbon storage. Occidental has reported encouraging results from the pilot and has identified potential for the technology to be expanded within Block 9.
Blocks 3 & 4 (acquisition completed)
Status: In production
Blocks 3 & 4 (Afar & Ghunaim) cover approximately 29,000 km² in eastern Oman and contain seven producing fields. The blocks have an active exploration and development programme, including two successful exploration wells drilled during H1 2025.
The Blocks 3 & 4 joint venture plans to drill a further 13 exploration wells by the end of 2029, targeting approximately 8 million barrels of prospective resources net to Kistos’ 20% working interest, with approximately 40 million barrels of additional follow-up potential net to Kistos.
Our interests
| Field or licence | Licence holder | Licence type | Status | Kistos working interest |
|---|---|---|---|---|
| Block 9* | Kistos Energy Limited | Production | Non-operated | 5% |
| Blocks 3 & 4 | Kistos Energy Limited | Production | Non-operated | 20% |
*Subject to completion