Muscat – Archyde.com
The Sultanate of Oman announced on Saturday new oil discoveries with oil companies operating in the Sultanate, which will contribute to increasing production between 50,000 and 100,000 barrels over the next two or three years, according to what the Oman News Agency quoted Minister of Energy and Minerals Mohammed bin Hamad al-Ramahi as saying.
Al-Ramahi added that the Sultanate’s reserves of crude oil currently amount to 5.2 billion barrels, while gas reserves are regarding 24 trillion cubic feet.
Al-Ramahi also stressed the continuation of the ministry’s efforts to develop the field of exploration so that production of crude oil and oil condensates would remain as it is currently, or increase it according to the market situation during the coming period.
