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Tuesday, 02 December, 2008, 23:50 GMT | more >>

Oman steps on the gas



By Upstream staff 

Oman aims to boost gas output by 11% this year as the country looks to meet rapidly rising demand for the fuel, Sayed al-Siyabi, director general of Oman's Ministry of Oil & Gas said.

Oman is targeting gas output of 70 million cubic metres per day this year, up from 63 MMcmd last year, al-Siyabi told Reuters.

The commissioning of a gas treatment plant at Kauther at central Oman last year had helped Petroleum Development Oman (PDO) to boost gas output, Siyabi told the news agency on the sidelines of an investment conference.

"PDO is investing over $1 billion in various projects to enhance output this year and in the years to come," he said.

Majority state-owned PDO is the single largest oil and natural gas producer in the Sultanate.

BP and BG Group would also be investing close to $1 billion in the next three to five years to develop gas fields, Siyabi said.

Last year BP won a concession to develop Oman's tight gas, which are reserves in complex formations that are difficult to exploit.

BG Group was developing a potentially gas-rich block in the Wusta region.

The sultanate is targeting oil output of 790,000 barrels per day this year, versus output of 710,000 bpd last year.


Monday, 14 April, 2008, 13:48 GMT  | last updated: Monday, 14 April, 2008, 13:48 GMT

Drilling ahead: in Oman
 

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