Oman has made new oil discoveries that will help boost its output between 50,000 to 100,000 b/d in two to three years, the country’s energy minister Mohammed Al-Rumhi said, as the Gulf producer ramps up exploration for oil and natural gas.
Oman is boosting exploration activities to help maintain or even boost production of oil and condensate, depending on market needs, Al-Rumhi, told state-run Oman News Agency in a report published June 4. He didn’t disclose details about the new discoveries.
Currently, Oman has 5.2 billion in oil reserves and 24 trillion cubic feet (Tcf) of gas reserves, he added.
Oman is seeking to boost its oil and gas output with the help of international oil companies, with Shell and BP being among the biggest operators in the country.
Oman, the biggest Middle East oil producer outside the Organization of the Petroleum Exporting Countries (OPEC), pumped 840,000 b/d in April, slightly above its 837,000 b/d OPEC+ quotas, according to the latest Platts survey by S&P Global Commodity Insights.