A concession agreement was signed between Lebanon’s CC Energy Development Company (CCED) and theOmani Ministry of Energy (MoE) for oil and gas exploration in two concession areas in the Dhofar province. Thisdeal comes with hopes that the geophysical surveys in the two areas are successful to proceed to the drillingphase.  Oman stands as the largest non-OPEC crude oil producer in the Middle East. The country’ total investments intooil and gas exploration reached US$ 5.8 billion in the first half of 2023. These investments were distributed with62% going towards capital expenditure (including geological surveys, drilling and facilities) and 38% allocatedtowards operating expenses.  It is worth noting that CCED is a private, independent Lebanese company for upstream oil & gas exploration and  production. The company was established in 2007 with the aim to acquire exploration and development assets  in the Middle East, Africa and Commonwealth of Independent States (CIS). CCED Oman currently operates  Blocks 3 and 4 in the country where several discoveries were made. The company currently produces circa28,000 bpd of oil. (ICE BEIRUT)

Fonte notizia: Bank Audi, Lebanon Weekly Monitor, 8 - 14 Jan 2024