Oxy made significant headway in Oman last year when it snatched the large Mukhaizna field development from the Shell-led Petroleum Development Oman (PDO), adding to its existing independent production.
Oxy will hold a 70% stake in Block 54, which lies adjacent to Mukhaizna and covers about 5620 square kilometres.
"We believe the block has excellent exploration potential and, due to the close proximity to our existing infrastructure, could lead to significant operational synergies," said Oxy president Ray Irani.
Mubadala
