UK-based independent energy company Kistos Holdings has officially entered Omanβs upstream energy sector after the ratification of its acquisition of a 20% working interest in producing Blocks 3 & 4 from Mitsui E&P Middle East.
Under Royal Decree 78/2026, the new ownership structure gives CC Energy Development 50%, Tethys Oil 30% and Kistos Energy Middle East 20%. The transaction marks Kistosβ first entry into Oman and the wider Middle East, adding long-life onshore producing assets to its international portfolio.
Covering around 29,000 sq km and seven producing fields, Blocks 3 & 4 also offer significant exploration potential. Kistos and its partners plan to drill 13 additional exploration wells by the end of 2029, targeting around 8 million barrels of prospective resources net to Kistos, with further follow-up potential of 40 million barrels.
The wider acquisition, including a separate 5% interest in Block 9, was valued at $148 million. Kistos sees Oman as a platform for further regional expansion, reinforcing the country's position as an attractive destination for international upstream investment.
