Muscat, August 4, 2016

TBY--a leading research firm and publisher of annual economic resources on national economies--recently met with Raoul Restucci, the Managing Director at Petroleum Development Oman (PDO), to discuss the latest activities of Oman's largest oil-producing company.

The interview with Mr. Raoul Restucci will be part of TBY's fourth publication on the economy of Oman, The Business Year: Oman 2017.

During the interview, Mr. Restucci told TBY about some of the recent strategies taken by PDO designed to increase efficiencies and minimize waste in this period of low oil prices. He spoke about PDO's output goal of producing 600,000 barrels of oil per day and included that they are on their way to realizing this goal well before their original timeline of 2019.  Mr. Restucci also touched on one of the biggest projects for PDO in their 1GW solar-to-oil plant that is set to commence operations in the Amal oil field in 2017. Developing the plant in partnership with GlassPoint Solar, he added, "This project, one of the largest of its kind in the world, is essential to PDO's plans for sustainable production. It will provide a significant portion of the steam demand at Amal for thermal enhanced oil recovery in ultra-heavy and viscous reservoirs. It will target 250 million barrels there and have considerable incremental scope across our concession area." He also offered more insight on how this project is helping advance solar technology in Oman, adding, "Integration of this solar EOR technology into existing PDO oilfield operations will both further extend our energy conservation efforts and has the potential to make Oman a world center of excellence for solar EOR, providing job and training opportunities for Omanis." Mr. Restucci also addressed PDO's plans to invest $10 billion in hydrocarbon projects around the country. One of the largest investments in this plan includes the development of the mega Rabab Harweel integrated project (RHIP), which paves the way to develop 240 million barrels of oil and 100 million barrels of condensate, with the export of one trillion cubic feet of non-associated sale gas.

In addition to Mr. Restucci's contribution, the new publication will feature around 150 interviews with key decision makers from both the public and private sectors of Oman.

TBY's publications are read by a constantly increasing number of worldwide corporate clients, including international institutions such as the IMF and the World Bank, as well as national and international private companies, accountancy firms, financial institutions, industrial conglomerates, and governmental organizations. The Business Year: Oman 2017 will be distributed extensively both globally and domestically and will reach an even larger audience through its fully integrated website and mobile applications for iPad, iPhone, and Android platforms.

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© Press Release 2016