PDO signs $600 million contract for small fields in Oman

Petroleum Development Oman reported signing a $600 million contract to continue developing 18 small and marginal fields in southern Oman.

The deal with MedcoEnergi of Indonesia builds on a 2006 contract and is expected to result in 100 new wells from 2016 through 2021 in the Karim Small Fields (KSF) project.

Current KSF production is 17,500 b/d. PDO said it has hopes of at least 20,000 b/d over the next few years but cited tough challenges such as oil viscosity and high oil-water ratio in the reservoirs (OGJ Online, Feb. 25, 2015).

The contract runs until 2040, with anticipated annual expenditures beyond 2021 of up to $130 million.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...