Oman’s PDO targets oil production of 800,000 bpd while halving emissions

Oman’s PDO targets oil production of 800,000 bpd while halving emissions

MUSCAT: Majority state-owned Petroleum Development Oman (PDO), the biggest oil and gas producer of the Sultanate of Oman, plans to ramp up oil production to over 700,000 barrels of oil per day (bopd) in the medium term, with the ultimate goal to lift output to 800,000 bopd.

This compares with a present production of 650,000–660,000 bopd of oil, in addition to over 100,000 barrels of oil equivalent per day (boepd) of condensate and 60 million cubic metres (equivalent to around 2.12 billion cubic feet) per day of gas.

The new production targets are necessary to sustain oil export revenues that the Omani economy is dependent on, said Steve Phimister, PDO Managing Director.

“Our medium-term target for oil production is to reach well above 700,000 bopd and to potentially move towards 800,000 bopd, a significant increase that will be achieved whilst at the same time halving emissions by 2030,” Phimister said in an interview featured in The Energy Year (formerly The Oil & Gas Year), a leading UK-based news portal focused on the energy sector.

According to Phimister, the hydrocarbon industry accounted for around 85 per cent of Oman’s revenue base in 2022 – a significant contribution that the sector must sustain to support the