Oil and Gas Minister Statement

According to Oman News: Dr. Mohammed bin Hamad al Rumhi, Oil and Gas Minister has announced that the Sultanate’s oil production will gradually increase from next year. In an interview with Oman Arabic Daily Newspaper which it has published here in its economic page today, the Minister said from next year the Sultanate’s oil production will increase with the commencement of oil production from new projects, such as, Kawthar field. A slight increase in oil production in 2008 is expected as compared to this year’s production. The Minister pointed out that the production will increase significantly in 2009 and beyond after completing development of new projects such as Harweel and Mukhaiznah fields and Qarn Al Alam project. He said there are new indications suggesting new oil discoveries, adding that currently there are 20 companies exploring oil at open areas with whom agreements have been signed in the past years, hoping there endeavours in exploring oil be successful.Dr. Al Rumhi hailed the good relations linking the Sultanate with world countries, as well as, the investment climate in the Sultanate, which encourages companies to invest in the Sultanate.

Originally published by Info-Prod Strategic Business Information.

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