Oman makes new oil discoveries

Muscat: The Minister of Energy and Minerals announced that new oil was discovered by oil companies operating in the Sultanate of Oman that will contribute to increasing production between 50,000 and 100,000 barrels over the next two or three years.

His Excellency Dr Mohammed bin Hamad Al Ramahi, Minister of Energy and Minerals, assured the Oman News Agency of the continuation of the efforts of the Ministry of Energy and Minerals in developing the field of exploration so that Oman’s production of crude oil and oil condensates would remain as it is currently or increase according to the market situation during the coming period.

His Excellency indicates that the Sultanate of Oman's reserves of crude oil are currently 5.2 billion barrels, while gas reserves are about 24 trillion cubic feet.