Oman’s state hydrocarbons firm Petroleum Development Oman (PDO) responsible for operating the country’s largest oil and gas asset Block 6 (EDO 60%, Shell 34%, Total 4%, PTTEP 2%) produced a 22-year high 679,922 b/d of liquids in 2024, which the firm says surpassed its target by 7,000 b/d. PDO says that total hydrocarbons output increased to a new record high, although it doesn’t provide a figure.
While output was on an upwards curve, PDO may have been disappointed by the return on its exploration efforts. According to its recently released sustainability report, oil reserves dropped by 140mn barrels to a four-year low of 4.83bn barrels. PDO produced 249mn barrels last year, exceeding the 135.4mn barrels of crude and condensate “Discovered Contingent Resources” that the firm achieved. (CONTINUED - 790 WORDS)
