Omani Ministry of Oil and Gas Undersecretary Nasir bin Khamis al-Jashmi said recently that Oman has a total of 50bn barrels of crude reserves; however, he noted, just 10% of this amount is currently recoverable. As technology improves, Oman may be able to unlock a higher percentage of the ultra-heavy crude that makes up the bulk of Mr Jashmi’s 50bn barrel figure.
Petroleum Development Oman (PDO), which accounts for more than 80% of total production in the sultanate, has made Oman the only country where miscible gas, steam injection and chemical EOR technologies are all deployed. Furthermore, it is the trail blazer in the Gulf, developing technology such as using solvents instead of steam to extract heavy oil in what is a water-scarce environment and where many countries face a gas shortage. The Enhanced Oil Recovery (EOR) projects will counter depletion, stabilizing reserves and output. (CONTINUED - 276 WORDS)