PDO To Award $1Bn Worth Of Oil And Gas Contracts By Year-End

PDO To Award $1Bn Worth Of Oil And Gas Contracts By Year-End

Petroleum Development Oman (PDO) plans to award more than $1bn worth of contracts for work in its oil and gas fields before year-end, a company official told local the media on 13 September. Six contracts are expected to be awarded this year at the Hasirah and Hawqa gas fields, while steam injection work is also planned at the al-Ghubar oil field and a power station is to be built in Lekhwair. “We are pressing the tenders submitted for various oil fields contracts, including oil drilling and gas supply,” the unnamed official said, adding: “The total contracts to be awarded by the end of this year will be worth about OR400mn ($1.04bn).” The US Energy Information Administration (EIA) recently said that the discovery of al-Ghubar South in 2009 could be one of the most promising finds of recent times in Oman, with officials at the Ministry of Oil and Gas saying it could add as much as 1bn barrels to oil reserves.

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