CCED Ups Oman Output But 2017 Target Fades

Output at Oman’s Blocks 3 & 4, operated by Lebanese independent Consolidated Contractors Energy Development (CCED), surged to record highs in 2016. Production broke above 40,000 b/d in January 2016 for the first time with a record 42,100 b/d, and averaged above 40,000 b/d for each quarter last year. Based on January-November data, MEES calculates annual output of 40,400 b/d, up 25% on 2015’s 32,325 b/d.

CCED operates the two blocks with a 50% stake alongside Sweden’s Tethys Oil (30%) and Japan’s Mitsui (20%).

Production has been ramped up further and is currently averaging around 45,000 b/d, a CCED source tells MEES. But, despite these considerable successes, plans to boost output 50% to 60,000 b/d this year are already out of reach, MEES understands. (CONTINUED - 664 WORDS)

DATA INSIDE THIS ARTICLE

chart Output From Cced’s Blocks 3&4 Tops 40,000 B/D For The First Time (‘000 B/D)