Oman To Invest Up To $4bn In E&P Despite Cash Shortage

State-owned Oman Oil Company Exploration and Production (OOCEP) plans to spend $2-4bn as part of an effort to massively hike output to 200,000 barrels per day of oil equivalent (boe/d) by 2020, up tenfold from the current 18,500 boe/d. Around a third of this (6,000 b/d) is crude; gas output is 70mn cfd, mainly from the onshore Abu Tabul gas field on Block 60, which came online in November last year (MEES, 23 January).

Next year production will rise to 30,000-50,000 boe/d, OOCEP’s Chief Operating Officer Sulaiman al-Zakwani says, although he did not specify where the additional output would come from. (CONTINUED - 456 WORDS)