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FINANCIAL NEWS
Oman to invest USD11 b in oil projects
14 Oct 2013
(MENAFN) Petroleum Development Oman (PDO), the Sultanate’s oil and gas exploration and production flagship, has announced its intention to invest in new oil projects for about USD11 billion in the following decade, according to Oman Observer.
The new projects aim to develop over one billion barrels of oil, said the Managing Director Raoul Restucci.
Raoul said: “Between now and 2022, there will also be 16 significant new projects comprising over USD11 billion of investment and targeted at developing over a billion barrels of oil.”
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