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FINANCIAL NEWS
Oman Petroleum to award USD1.04b oil contracts by year-end
14 Sep 2011
(MENAFN) Oman Petroleum Company (PDO) said that before the end of 2011, the company would award USD1.04 billion of oil and gas deals, reported Arabian Business.
The company added that in 2011, 6 deals would be awarded at the Hasirah and Hawqa gas fields, in addition to steam injection work at the Al Ghubar oil field and a power station at Lekhwair, however, the firm was assessing the tenders that were submitted.
On the other hand, the finance ministry said that in the year’s first half, oil production went up 3 percent whereas exports dropped by 1.8 percent when compared to 2010’s same period.
It is worth noting that in 2009, Al Ghubar South oilfield was discovered, which was considered the most promising discovery in the country in years, since it added up to 1 billion barrels to Oman’s reserves.
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