New oil reserves discovered in Oman’s Dafaq oilfield
Petroleum Development Oman (PDO) has recently announced a major new oil find at the Dafaq oilfield, in southern Oman, close to another recent discovery site at Harweel. The state-owned oil company expects to find petroleum reserves of up to 40 million barrels of oil, with production at the new oil wells hoped to reach 12,000 barrels per day (bpd) by 2004.
PDO is the Sultanate’s exploration and production company, whose reserves currently stand at 5.6 billion barrels of crude oil. It accounts for more than 90 percent of the country's crude oil production and all of its natural gas supply. PDO, the country's second-largest employer after the government, is a consortium 60 percent held by the Omani government, 34 percent by the Royal Dutch/Shell Group, four percent by TotalFinaElf and two percent by Partex. — (menareport.com)
© 2002 Mena Report (www.menareport.com)