Oman to Significantly Boost Oil and Condensate Output
Petroleum Development Oman, the largest oil and condensate producer in the sultanate, is on track to increase its output capacity by more than 10% to top 670,000 bpd in five years as it ramps up exploration activity and pumps more out of existing fields, a company official told S&P Global Platts.
PDO, in which the government has a 60% stake and Royal Dutch Shell a 34% share, is beefing up exploration, particularly in central Oman, and boosting oil production through enhanced oil recovery techniques, said Sami Baqi, the company's technical director.
"If you look at the projected forecast, given the richness of our portfolio we have today, we are confident that we can grow to above 670,000 bpd over the next five years," Baqi said by phone last week.
PDO's output averaged 610,710 bpd in 2018, the highest level since 2005.
Oman, the biggest Middle East oil producer outside OPEC, has benefited from expanded exploration efforts, with the discovery of the Mabrouk gas field northeast of the sultanate last year.
source: Financial Tribune
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