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Mon 10 Aug 2009 12:12 PM

Oman's H1 oil output rises by 6.6%

Official data shows non-OPEC producer supplied 792,700 barrels per day in first six months.

Non-OPEC producer Oman's average oil production rose 6.6 percent to 792,700 barrels per day in the first six months of 2009 compared with a year earlier, according to official data published on Monday.

Oman is a small producer, but its crude is used to set the price for around 12 million bpd of crude exports to Asia from some of the largest exporters in the world in the Gulf.

The sultanate is targeting average output of 800,000 bpd this year, up from 757,000 bpd in 2008.

The Gulf Arab producer sold its oil at an average price of $45.72 per barrel in the year to June, down 50.5 percent from the same period in 2008.

Gulf Arab oil producers have seen revenues fall sharply with oil prices this year. US crude averaged $51.68 a barrel in the first six months of 2009, down from $111.12 a barrel in the same period of 2008.

Oman's oil output peaked at 956,000 bpd in 2001 and since then it has been fighting to arrest declining production from depleted fields.

The Gulf Arab state's gas production marginally increased by 0.2 percent to 530.14 billion cubic feet in the first six months of 2009 over last year. (Reuters)

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