Kistos gains legal title to Oman Blocks 3 and 4 following Royal Decree

Kistos announced on 7 September 2026 that an Omani Royal Decree has transferred legal ownership of Blocks 3 and 4 from Mitsui to Kistos.

Legal transfer and formal completion

Formal completion of the sale agreement will follow, including completion adjustments and interim-period accounting. Block 9 is progressing on a separate timetable under its own contractual framework.

The broader acquisition of Blocks 3, 4 and 9 was agreed for $148m, with an effective date of 1 January 2025. The company attributes 25.6 million barrels of oil equivalent of proved and probable reserves and approximately 9,000–10,000 barrels-equivalent daily of 2025 production to the overall package.

Implications

The decree establishes legal ownership of two blocks and advances Kistos' entry into the region. The quoted reserves, production and purchase price describe the combined transaction, not just today's two-block transfer.

The next milestones are the completion adjustments and Block 9's outstanding process. The eventual cash contribution should be assessed using actual acquired production, costs and retained interests.

Source: Company announcement, 7 September 2026.