Thai oil company, PTT Exploration & Production Pcl, has announced the sale of its Oman subsidiary, PTTEP Oman Co Ltd, to Muscat-based ARA Petroleum LLC, as part of its efforts at portfolio rationalisation. PTTEP Oman has a 100% interest in Block 44. The Block 44 project is a natural gas and condensate field located onshore, to the west of Muscat, with an acreage of 1,162sqkm. The project has been in commercial production since 2007; with an average output of 19mn ft3 per day of natural gas and 904 barrels per day of condensate in the second quarter of 2016, according to PTTEP. (Muscat daily)