Oman Oil Company (OOC) is in talks with Occidental Petroleum (Oxy) to buy the US energy company’s assets in the sultanate, according to the Omani group’s CEO.

“We are now in negotiations with [Oxy] to buy their assets in the sultanate,” Isam al-Zadjali told reporters on 23 October, as reported by Reuters.

“Now, we are waiting for them to specify what exactly they want from this deal. We are ready to buy the assets.”

Oxy is looking to sell minority stakes in several assets across the Middle East and North Africa (Mena) region, the company said in October 2013.