Petroleum Development Oman's crude production averaged 565,000 barrels per day (bpd) in the first 11 months of 2012, up from 550,000 bpd last year, PDO's managing director said on Monday.
State-controlled PDO accounts for more than 70 percent of Oman's oil and nearly all its gas output. PDO's production of crude, condensate and natural gas has averaged 1.25 million bpd of oil equivalent (boepd) so far this year, up from 1.20 boepd in 2011, PDO's Raoul Restucci told a gas conference in Muscat.
Total Omani crude production averaged nearly 910,000 bpd in the first nine months of 2012, up from an average of 886,000 bpd in 2011, thanks largely to gains from enhanced oil recovery projects.
PDO is 60 percent owned by the Omani government, Royal Dutch Shell holds 34 percent, while France's Total and Portugal's Partex hold small stakes.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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