Oman Eyes Exciting Oil Potential As Production Limits Ease

Released from the burden of Opec+ production limits, the Middle East’s largest non-Opec producer is beginning to gradually ramp crude and condensate production back up to the 1mn b/d levels of 2016. Omani Oil Minister Muhammad al-Rumhy says a reassessment of Oman’s reservoirs means he is shooting higher still: “there is growth potential and that is very exciting” he told MEES in Muscat ( MEES, 7 September ).

Both in the immediate future, and longer term, state-led Petroleum Development Oman (PDO: Oman 60%, Shell 34%, Total 4%, Partex 2%) will play the biggest role. “The opportunities to ramp up will mainly come from PDO and then we go down the list with [US firm] Oxy and then followed by Daleel [a 50:50 JV between Oman’s Petrogas and CNPC] and then maybe [Athens-based] CCED,” says Mr Rumhy. (CONTINUED - 1581 WORDS)


chart Record High Condensate Output Pushes Oman Oil* Production To Seven-Month High ('000 B/D)
chart Oman 2017 Crude & Condensate Production: Breakdown By Producer ('000 B/D)