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FINANCIAL NEWS
PDO oil production hits 1.25m bpd
04 Mar 2014
(MENAFN) Oman’s national oil company said its oil and natural gas production last year increased, Times of Oman reported.
Petroleum Development Oman (PDO) said oil production rose to USD1.25 million barrels of oil equivalent per day, while adding 317 million barrels of oil reserves.
Around 1.3 trillion cubic feet of natural gas-developed reserves were added last year, the company said.
PDO managing director said: “As the easy oil supplies dwindle, EOR is going to account for an increasing part of our production portfolio.”
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