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Home  → News  → Non-renewable Energy  → Petroleum Development Oman’s production of crude oil is expected to increase to 700 thousand barrels per day by 2030.

Petroleum Development Oman’s production of crude oil is expected to increase to 700 thousand barrels per day by 2030.

April 23, 2024

Steve Feamster, Director General of Petroleum Development Oman (PDO), predicted that crude oil production would rise to 700,000 barrels per day before the end of the current decade in 2030.

This great ambition is achievable. In view of the new projects that the company seeks to bring into operation.

One of the most important factors leading to achieving the goal is that the company owns many projects currently under development, which are expected to bring production to the announced goal. The company adds between 10,000 and 15,000 barrels per day on average to its production every year, with the possibility of exceeding this number. ; Depending on factors such as the price of oil and the desire of shareholders.

The company wants to grow in a sustainable way while achieving a balance in emissions targets, within the framework of the company's goal announced in 2021 to achieve carbon neutrality by 2050, but the company faces a dual challenge of growing old projects while reducing carbon emissions at the same time.