Monday, Feb 15, 2010
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MUSCAT (Zawya Dow Jones)--Petroleum Development Oman, the country's largest oil producer, said Monday it boosted output of liquid hydrocarbons for the second consecutive year amid higher production of condensates and liquid petroleum gases, or LPGs, but crude output remained largely unchanged.
The company, better known as PDO, said in its 2009 media briefing that production of liquid hydrocarbons, which also include crude oil, hit 641,000 barrels a day in 2009, up from 633,000 barrels in 2008 and 607,000 barrels in 2007.
The increase was largely driven by higher condensate and LPG output, which reached 89,000 barrels a day compared with 77,000 barrels a year earlier, PDO said.
PDO's total hydrocarbons production, including natural gas, rose slightly to 1.051 million barrels a day of oil equivalent.
"I am pleased to announce that 2009 was a successful year for our exploration directorate," PDO managing director John Malcolm said at a media presentation in Muscat.
Crude production remained virtually unchanged at 552,000 barrels a day, the company added.
PDO is 60% owned by the Oman government. Royal Dutch Shell PLC (RDSA) holds a 34% stake, French oil major Total S.A. (TOT) owns 4% and Partex the remainder.
PDO separately announced it had made last year a major oil discovery at Al Ghubar South, close to the existing Al Ghubar and Qarn Alam fields, and two further oil discoveries at Dafiq West and Anbar.
The company added it also made a gas discovery at Khulud, where gas in "potentially large volumes was found at a depth of more than 5,000 meters."
-By Oliver Klaus, Dow Jones Newswires; +9714 446-1693; Oliver.Klaus@dowjones.com
Copyright (c) 2010 Dow Jones & Co.
(END) Dow Jones Newswires
15-02-10 0655GMT
