FINANCIAL NEWS

Oman reports 4% increase in 2012 oil output

04 Mar 2013

(MENAFN) Oman’s Undersecretary at the Ministry of Oil and Gas, Nasser Al Jashmi, announced that the country’s oil output in 2012 went up by 4 percent, averaging 918,000 barrels per day (bpd), reported Gulf News.

Al Jashmi said that in the year, the sector increased its share of the Sultanate’s gross domestic product (GDP) to 55 percent from 30 percent in the previous year.

He added that 18 firms had carried out exploration and production work on 29 confession areas.

It is worth noting that Oman drilled 41 exploratory wells in 2012, and explored over 1000 wells.

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