UPDATE: Oman extends $7bn oil contract deadline

PDO extends deadline to August 12 after response from contractors

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Petroleum Development Oman (PDO) has announced that it has extended the cut-off date for companies wanting to qualify for US$7 billion worth of oilfield services contracts on the country’s fields after receiving a large response from interested parties.

"The dates have been moved to give PDO more time to evaluate the bids after receiving a bigger response than we expected," Reuters reports an official from the company as saying.

Any companies wanting to be considered now have until August 12 to submit the relevant paperwork. The contracts are set to be put out to tender in the fourth quarter of 2009 and awarded in the third quarter of 2010.

The contract award is part of the Oman’s plan to increase oil production from its depleted fields. The Gulf states hopes output can reach 805,000 barrels per day (bpd) in 2009 from current levels of 757,000 bpd.

PDO is Oman’s largest oil producer and accounts for almost 90% of the country’s crude-oil production. The Oman government has a 60% interest with Royal Dutch Shell owning 34%, French supermajor Total owning 4% and Partex owning 2%.
 

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