ARA’s primary strategy is to develop a balanced portfolio of E&P licenses with a mix of existing production, development ready discoveries and acreage with good exploration upside potential. The company invests in both oil and gas projects and has currently a 75% oil and 25% gas mix.
ARA Petroleum LLC was established in May 2014 and 2016 was the first year of production with an average daily production of approximately 5,000 BOE/d. The company has extensive plans for development of oil fields under Qarat al Milh Petroleum and also plans to invest in Block 44 in Oman to boost the production of the condensate rich gas fields. ARA Petroleum has working interest in more than 11.600 sqkm of acreage with high exploration potential in Oman and Tanzania.
The ARA Petroleum group of companies employ more than 100 people with extensive experience from the oil and gas sector. The company’s uses the in-house experts to enhance production from proven accumulations and unlocking the exploration potential.
The company’s commitment to developing resources in Oman will also be complemented by international projects, all of which will be led from ARA Petroleum’s headquarters in Muscat, Oman.