Middle East Economic Survey

VOL. LIII

No 26

28-Jun-2010

Oxys Oman EOR Project Costs Soar To $9Bn

Costs for US independent Occidentals Mukhaizna heavy oil development in Oman have soared to $9bn from the $2bn it said it would cost when it wrested Block 53 from Shell-led, state-controlled Petroleum Development Oman (PDO), Omans biggest producer, in 2005. Oxys original plan was to raise oil production to 150,000 b/d in 2011 from the 10,000 b/d the field was producing when the concession was awarded,...