Oman Oil eyes Occidental’s local assets

22/10/2014 05:44 AST

Oman Oil Company, the Sultanate's investment arm in energy sector, is considering acquisition of Occidental's assets in Oman.

Although the company has already started to gather data, it is yet to start a 'meaningful negotiation' with the United States energy giant to finalise the acquisition price, Eng. Isam Al Zadjali, chief executive officer of Oman Oil Company, told journalists on the sidelines of Oman Energy Forum 2014.

Al Zadjali said an earlier proposal for a joint regional move (of Oman, the UAE and Qatar) to buy the Middle East assets of Occidental has been scrapped.

"At this point of time, we are looking at all assets (in Oman)," he said; adding; "But they haven't told us the assets they are going to sell. We are ready whenever Occidental is ready (to sell assets)."


Times of Oman

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