Oman energy minister Mohammed al-Rumhy is confident that the sultanate’s upstream sector is on an upwards trajectory. Talking to state news agency ONA last week, Mr Rumhy said that new oil discoveries in the sultanate should generate production of 50,000 to 100,000 b/d over the next three years.

Rather than boosting production capacity, output from the new discoveries will primarily be used to offset natural decline rates and maintain overall capacity at just over 1mn b/d. Mr Rumhy said that their development will enable Oman to sustain its “current rate of output from crude oil and condensates and keep pace with market trends over the future.” (CONTINUED - 980 WORDS)