PDO keeps faith with enhanced oil recovery

摘要

Oman’s largest oil and gas producer PDO says it will continue to “stay the course” with its upstream strategy-including enhanced oil recovery (EOR)-despite the challenges posed by lower oil prices. But the financial strain facing the firm has forced it to slow the pace of EOR projects. State-controlled PDO increased production to a record 1.29mn b/d oil equivalent (boe/d) last year from 1.23mn boe/d in 2014. The firm’s crude output of just under 590,000 b/d was the highest since 2005, more than making up for a 7mn m3/d fall in gas production to 83mn m3/d. “We have a portfolio that continues to be resilient,” managing director Raoul Restucci says. “Every single indicator beyond revenue is higher than it was in 2014, when the oil price was above $100/bl