PDO Announces New Discoveries in Oman

Petroleum Development Oman (PDO) has recently discovered the Dafaq oilfield with potential reserves of up to 40 million barrels. Until further testing can be completed, it is too early to determine what daily production will be. Several new oil wells were recently discovered in another oilfield at Harweel in the south. He said production would start at the new wells in 2004 with a total capacity of 12,000 bpd. Oman is currently exporting roughly 830,000 bpd after cutting its output by 40,000 bpd from January in collaboration with OPEC to boost crude oil prices.