MUSCAT: Oman’s oil production this year is targeted at around 990,000 barrels per day (bpd), said Minister of Oil and Gas, Mohammed bin Hamad Al Rumhy, adding it would be difficult to halve the economy’s dependence on oil in five years.
The target for this year is 980,000 to 990,00 bpd or slightly more than that, the minister told reporters on the sidelines of a ceremony held at the Crowne Plaza on Monday.
The event was held to honour195 Omani job-seekers, who graduated to the highest international standard to work as welders at the Rabab Harweel integrated oil and gas mega project of Petroleum Development Oman (PDO).
Al Rumhy also commented on the target mentioned in the 2016 to 2020 plan to reduce the oil industry’s contribution to Oman’s gross domestic product (GDP)to 22 per cent from 44 per cent. The plan was announced recently in a statement issued by the Supreme Council for Planning.
Asked if the target is achievable, Al Rumhy said, “With difficulty.”“We are producing more oil, we are looking for more oil, and we are contributing more. So the challenge is for others to catch up with us and maybe defeat us.
Because now we are quite ahead in this race of who is paying more to the nation, and we are paying a lot, and we want others to get close to us and maybe go in front of us. But so far, I do not see anyone behind us,” he explained. On the planned Iran-Oman gas pipeline, he said, “We are doing fine. We are progressing.”
