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
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
