Oman’s oil and gas sector has witnessed a flurry – by its standards – of corporate activity in recent days. On 23 December, Sweden’s Tethys Oil announced it would acquire Total’s 2% stake in Oman’s largest producing oil field, the 120,000 b/d Mukhaizna heavy oil field (Occidental 45% op, Oman Oil Company 20%, Indian Oil 17%, Mubadala-owned Liwa Energy 15%, Total 2% and Portugal’s Partex 1%).

Tethys, which holds a 30% stake in CCED’s 39,000 b/d...