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FINANCIAL NEWS
Oman- PDO’s crude output grows in Jan-Nov
03 Dec 2012
(MENAFN) Petroleum Development Oman’s (PDO) managing director, Raoul Restucci, stated that the company’s crude output grew to an average of 565,000 barrels per day (bpd) in the January-November period, reported Arabian Business.
Restucci said that year-to-date, the company’s output of crude, condensate and natural gas has averaged 1.25 million bpd of oil equivalent (boepd), compared with 1.20 boepd last year.
The company, which makes up over 70 percent of the Sultanate’s oil and almost all its gas production, produced an average of 550,000 bpd of crude in 2011’s first 11 months.
The Omani government holds a 60-percent stake in PDO, whereas Royal Dutch Shell holds a 34-percent stake, and both French Total and Portugal’s Partex hold small stakes.
It is worth noting that in the January-September period, total Omani crude output averaged around 910,000 bpd, up from an average of 886,000 bpd a year ago.
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