Oman’s crude production hits record one million bpd

oilwell-omanFor the first time, Oman’s daily production of crude oil and condensate oil rate exceeded one million bpd, which is the highest according to the Ministry of Oil and Gas

The total oil production rate stood at 1,001,081 bpd, a rise of 0.48 per cent, of which more than 24mn barrels have been exported.

China topped the list of countries importing Omani oil during the month of June at 69.25 per cent of the total exports, followed by Japan with 15.15 per cent. Taiwan, Singapore and Thailand imported 7.52 per cent, 4.05 per cent and 4.03 per cent, respectively. Moreover, Oman’s production of oil during the first half of this year increased by 2.9 per cent to 175.67mn barrels, compared with 170.8mn barrels in the first half of 2014.

The total production of oil during 2014 reached 344.4 barrels, out of which 312.5mn barrels were crude oil and 31.8mn barrels were oil condensates.

Sayyid Fahad Bin Mahmoud Al Said, deputy prime minister for the Council of Ministers, said that the slump in oil prices was not the first and that Oman is not panicking in this regard.

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