PDO To Invest $11bn Through 2022 To Maintain Crude Plateau
Majority state-owned Petroleum Development Oman (PDO) plans to invest $11bn in a drive to produce 1bn barrels of oil by 2022, according to the company’s newly released 2012 Annual Report. PDO has launched what it calls the Central Project Delivery Organization and intends to implement 16 “significant” projects as part of the investment scheme.
PDO’s crude production fell sharply...