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FINANCIAL NEWS
Oman to raise oil production in 2015
18 Nov 2014
(MENAFN) Oman’s Oil and Gas Ministry said that the country is planning to increase its oil productions to an average of 980.000 per day in 2015 from its present production average of 950.000 barrels per day, Times of Oman reported.
The ministry said that this increase in production is going to be supported by the aggressive drilling and new technology, which are currently utilized by oil producers in the Sultanate.
“We are challenging our productions to satisfy our demands. Oil and gas is still a very profitable business compared to other industries. We will see how the demand of the economic and then make a decision beyond 2015,” An official at the ministry said.
The ministry said that the objective of raising productions level next year is to cater for the economic growth of the country, which has been growing at a speedy level in recent years.
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