Authorities in Oman recently announced that the nation’s proven gas reserves presently stand at 690-720 million cubic meters, according to Al-Quds Al-Arabi daily.
Previous estimates put the Sultanate’s reserves at 600 million cubic meters. Potential reserves are believed to double the present proven amounts.
The Undersecretary of Oil, Salim Mohammed Al-Shaaban, stated that the proven gas reserves are likely to increase by an additional 300 million cubic meters by the end of the present year due to new gas discoveries.
This year, Oman announced the discovery of two new natural gas fields in the al-Dakhlia region. The Petroleum Development Oman Company described these findings as being potentially the largest discoveries in the past six years, further encouraging exploration in the region.
In 2000, Oman’s daily gas demands reached 28 million cubic meters per day. This amount is expected to rise to 70 million cubic meters by 2005.
Last year, Oman began exporting liquefied natural gas to Asia. In addition, it recently signed an agreement to export gas to the UAE. Revenues from oil and gas account for approximately 70 percent of Oman’s income. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
