Oman to increase Oil Production This Year: Al Rumhy

Oman is set to increase its oil production from 855,000 barrels per day (bpd) to 915,000 bpd this year, the country’s Oil and Gas Minister has said.

The non-OPEC member producer will boost output at its Harweel field from April, which will add a further 30,000 bpd, and at a number of wells in Qarn Alam, Mohammed bin Hamad Al Rumhy told Oman’s state news agency.

Several new companies will contribute to the Gulf state’s oil output in the next few months, he said. “[Oman has] “great interest in developing the oil and gas exploration and excavation programmes, building oil and gas stations and implementing non-traditional oil projects,” said Al Rumhy.

“The Oil and Gas Ministry is currently implementing a number of new projects, such as an electricity and gas pipeline to the Duqm Economic Zone, being implemented by the Oman Gas Company,” he added.

Al Rumhy in March said current oil prices are a “bit high” and should be at least US$100 a barrel. This was reported by Arabian Business News.