Oman’s OQ Upstream hydrocarbon output climbs to 218000 boepd

Oman’s OQ Upstream hydrocarbon output climbs to 218000 boepd

OQ Group, the integrated global energy group of the Sultanate of Oman, showcased the achievements of its Upstream Business at an event held under the auspices of Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals.

In a statement to ONA, Al Aufi said: “OQ Group plays an important role in many oil, gas, petrochemical and renewable energy investments, as part of its strategy to diversify its investments, operate to the highest international standards and export its products to more than 60 countries.”

Through investments in various oil and gas concessions, both directly and through partnerships, OQ’s Upstream Business has contributed to increasing hydrocarbon production, which has reached an average of 218,000 barrels of equivalent per day (boepd), accounting for a 12.6 per cent of Oman's total oil and gas production during a relatively short period, he noted

The Group has also reduced the operational cost per barrel of oil, enhanced local value creation, and employed national cadres in technical and engineering fields.

Talal bin Hamed al Oufi, CEO of OQ Group, said: "The Group invests in various oil, gas, petrochemical and energy businesses to maximise its contribution to the national economy, and contributes to the success of the government's policies in