Petroleum Development Oman (PDO) launched $1 billion worth of oil and gas projects in 2024, reflecting its continued support for Oman’s economy. According to its 2024 Sustainability Report:
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- Oil production averaged 679,922 barrels per day, the highest in 20 years, exceeding targets.
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- Total hydrocarbon output reached 1.1 million barrels of oil equivalent per day, generating $22.5 billion in revenue.
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- Operating costs were kept low at $7.4 per barrel, emphasizing efficiency and resilience.
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- PDO booked new reserves: 135.4 million barrels of oil and 0.73 Tcf of gas as contingent resources. The company added 0.7 Tcf in prospective volumes, maintaining a replenishment ratio of 1 and identifying 5 Tcf of high-risk prospective gas.
Notable project milestones:
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- Greater Al Huwaisah (GAHP) started two months early.
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- Saih Rawl Northwest and MAF Meter Upgrade went online as planned.
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- Marmul Gas Compression Project entered commissioning, aiming to reduce flaring and emissions.