UK/Dutch oil major Shell is looking to sell its stake in the Mukhaizna heavy oil concession in Oman, currently operated by the US' Occidental Petroleum, according to reports.

The sale of the stake in the concession, which is being led by US investment bank Rothschild, could fetch it $200m, Reuters estimates.

The concession located in Block 53 in southern Oman has been fitted with enhanced oil recovery systems that use steam flooding to extract heavier reserves.

The field's output averaged 127,000 barrels of oil equivalent a day in 2016, according to Occidental.

Output at the field is 16 times higher than the average production rate in 2005, when Occidental assumed operations.

The sale is said to be part of Shell's ongoing global asset disposal programme, which began in 2015 and follows its acquisition of UK oil and gas firm BG Group.