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FINANCIAL NEWS
Oman to grant 11 oil pacts in 2010
15 Feb 2010
(MENAFN) Oman plans to award 11 oil exploration and production contracts this year, in line with its efforts to boost long-term crude output, Reuters reported.
State Undersecretary for Oil and Gas, Nasser Al-Jashmi, said that Oman plans to boost crude production to 860,000 barrels per day (bpd) in 2010, up from 2009’s output of 812,500 bpd.
Managing Director of Petroleum Development Oman (PDO), the country’s biggest oil producer, said that the firm is targeting crude output of 540,000 bpd to 560,000 bpd this year, unchanged from last year.
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