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  • 05-06-22

    Oman announces new innovations to increase oil production to 100,000 barrels

    (MENAFN) On Saturday, Oman declared that it has made new oil innovations that is going to rise production by 50,000 to 100,000 barrels by 2024-2025.

    The Oman News Agency mentioned in a report on Saturday that the sultanate's crude assets have amounted to 5.2 billion barrels, while gas assets were at 24 trillion cubic feet.

    Oman is remaining its works to increase innovations with the aim of to keep the nation's crude and condensate output at present levels, or raise it, relying on the market conditions in the coming period, the agency stated, quoting energy and minerals minister Mohammed bin Hamad Al Rumhy.

    In March, Sultan Haitham, Ruler of Oman, stated that the nation strategies to use incomes from rising oil costs to decrease its public debt and support expenditure on government schemes, while guaranteeing inflation does not disturb basic commodity costs.

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