Oman's Ministry of Energy and Minerals has announced a new competitive bid round for three oil and gas exploration areas, namely Block 43A, Block 66, and Block 36, situated across distinct geological basins within the country. The bidding process, in collaboration with industry partners OQ Exploration and Production Company and Scotiabank, aims to attract fresh investments into Oman's exploration and production sector. Despite efforts to diversify the economy, the oil and gas industry remains a significant contributor to Oman's overall national welfare. There has been a slight decline in oil production, attributed to Oman's adherence to OPEC+ production cut agreements. Notably, the sector heavily influences the country's foreign direct investment stock. Alongside traditional hydrocarbons, Oman is actively seeking to drive investments in renewables and alternative energy sources. Prior to the bid round launch, Undersecretary Mohsen bin Hamad Al-Hadrami engaged in investment discussions at a Japan business conference, focusing on hydrogen technologies for energy transition. The minister's visit included interactions with Mitsubishi Heavy Industries to explore electricity generation turbines operating on natural gas and hydrogen, electrolysis technologies for hydrogen production, and the role of clean hydrogen in industrial processes like iron and steel production.