OMAN

PDO To Invest $26Bn Over Next Five Years

 

Oman’s Minister of Oil and Gas Muhammad al-Rumhy says Oman’s oil and condensate output will rise from 855,000 b/d to 915,000 b/d this year. State-controlled Petroleum Development Oman (PDO) – a Shell-led consortium – accounts for 550,000 b/d of Oman’s total production of around 800,000-830,000 b/d of crude. It aims to maintain this plateau for the next 10 years, with a reserve replacement ratio at 100%....