Oman: PDO will spend to achieve production breakthrough
Issue 992
- 08 May 2015
| 1 minute read
Petroleum Development Oman (PDO) has committed to raising its capital expenditure (capex) to reach a 600,000 b/d crude oil production plateau (to run for ten years) by 2019, up from the 550,000 b/d plateau announced in 2008. PDO managing director Raoul Restucci told the Ministry of Oil and Gas (MOG)’s annual media briefing in Muscat in mid-April that this would involve investing $30bn of capex and $10bn worth of operating expenses in the 2015-19 period.
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