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Oman invited bids on Wednesday for oil exploration and joint production contracts at five new sites in the Gulf Arab state, which faces falling crude output. An energy ministry statement said the sites on offer covered a total area of 23,545 square km (9,090 sq miles).
The blocs - number 54, 55, 56, 57 and 58 - are adjacent to the South Oman Salt Basin, an area with proven oil reserves of 16.5 billion barrels.
Deadline for companies to submit bids is January 1, 2006.
Most of the blocks on offer were held by state-run Petroleum Development Oman (PDO), which relinquished its stake in several concessions this year.
The hydrocarbon sector accounts for 80 percent of the Gulf state's export earnings and 40 percent of the country's gross domestic product.
Crude reserves are estimated at around 50 billion barrels.
PDO, which accounts for 90 percent of Oman's production, has said its average output is expected to drop to 635,000 barrels per day this year from 657,000 bpd in 2004.
PDO, majority owned by Oman's government, plans to inject an annual $1.5 billion to boost rates to 800,000 bpd by 2009.

Copyright Reuters, 2005

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