The Oil & Gas Year Oman 2015
In 2015, Oman has reached record highs in oil production in the face of low commodity prices. With steady investment, the government is poised to surpass its targeted output for the year, and achieved an unprecedented 1 million barrels of oil per day in July.
Large-scale investments in enhanced recovery have continued in 2015, with BP’s Khazzan tight gas project gaining momentum and Petroleum Development Oman’s announcement of plans to build the world’s largest solar plant to power steam injection at the Amal West field, slated for completion in 2017. Meanwhile, the government is taking steps to expand its downstream and petrochemicals sectors to add value to its produced oil and gas.
Oman’s infrastructure is also expanding to support its hydrocarbons growth. Pipelines, railways and ports are under development, with an eye to positioning the country as a regional trading hub.
The sultanate’s singular approach to ensuring its citizens benefit directly from its oil and gas wealth saw progress in 2015 with the creation of the fifth super local community contractor. Al Khazain Oilfield Services has become the latest government-supported, community-owned enterprise designed to enhance local skills and build Omani business capacity.
The Oil & Gas Year Oman 2015 takes investors inside these developments, featuring interviews with key actors such as Undersecretary of the Ministry of Oil and Gas H.E. Salim bin Nasser Al Aufi and Petroleum Development Oman managing director Raoul Restucci, along with ministers, diplomats and top executives from the country’s oil and gas industry.