Oman exports 7.5 bn barrels in 40 year

Oct 08, 2007 02:00 AM

Oman has pumped in excess of 7.5 bn barrels of oil since it began exporting crude nearly 40 years ago, according to an official report. Petroleum Development Oman (PDO), which controls the Gulf country’s hydrocarbon sector, issued the report to mark the 40th anniversary of the country’s first oil export shipment.
“On July 27th 1967, the oil tanker Mosprince arrived at Mina al Fahal (or Saih al Maleh, as it was then known) to load the first export cargo of Omani crude. Since then, PDO has exported over 7.5 bn barrels of crude oil,” it said.

“To celebrate the event, PDO has put into place several initiatives including the publication of an important history book by Sir Terence Clark, the former British ambassador to Oman. The book is entitled “Underground to Overseas: The Story of Petroleum Development Oman.”
PDO accounts for more than 80 % of Oman’s crude-oil production and nearly all of its natural-gas supply. The company is owned by the Government of Oman (which has a 60 % interest), the Shell Group (34 %), Total (4 %) and Partex (2 %).

Gas fields are operated by PDO exclusively on behalf of the Omani Government.
Despite the massive production, PDO has managed to maintain the country’s proven oil reserves at around 5 bn barrels as a result of new discoveries and the introduction of sophisticated exploration and production technology.

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