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FINANCIAL NEWS
Oman announces new oil discoveries
17 Feb 2010
(MENAFN) Oman’s biggest oil producer Petroleum Development Oman (PDO) announced the discovery of three new oil fields and a large gas-field at Al Ghubar South and Khulud, Reuters reported.
The amount of oil in place could be more than 1 billion barrels making it a significant discovery for the country, PDO said. The oil firm said that this discovery followed an ambitious exploration program in central Oman.
PDO’s gas discoveries at Khulud have potential of large volumes at a depth of more than 5,000 meters.
In all, four exploration and appraisal wells were drilled in 2009 to confirm the discovery, and further drilling to define further extensions of the field is planned this year, according to a report in Commodity Online.
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