Oman Oil Company is seeking to buy US-owned Occidental Petroleum assets in the sultanate, Reuters has reported.Â
The national oil investment company of Oman has been in talks with Oxy and is still waiting to know the specifics of the potential sale, according to the company’s CEO.Â
“We are now in negotiations with Occidental to buy their assets here in the sultanate,” CEO Isam al-Zadjali told reporters on the sidelines of an energy conference in Muscat.
“Now we are waiting for them to specify what exactly do they want from this deal. We are ready to buy the assets.”
The Houstan-based oil company said in October last year that it planned to sell a minority stake in its Middle East and North African assets as part of a restructuring program to lift its valuation.
Abu Dhabi’s Mubadala Development Company, Qatar Petroleum and Oman Oil Company were considering a joint bid for the unit, in a deal that could be worth between $8bn and $10bn.Â
