Sultanate’s Oil and Gas Production

The official Omani News Agency ONA reported this month that: The Sultanate's crude oil exports stood at 140,6 million during the first six month of 2003 compared to 154,9 million during the corresponding period last year, constituting a fall of 9.2%.

The monthly statistical bulletin issued by the National Economy Ministry stated that the total production of crude oil and condensates was 150.8 million at the end of June this year, against 164.8 million during the same period in 2002, an 8.5% drop.

The daily average production during the same period stood at 832.800, compared to 910.400 during the corresponding period in 2002, an 8.5% fall.

The average price of the Oman crude oil rose by 21.7% during the first half of 2003 to US$ 27.64 per barrel, against US$22.71 during the same period last year.

The same bulletin added that Japan topped the countries importing Omani crude oil, as it imported 41.6 million barrels during the first six month of 2003.

The Sultanate’s LNG production rose by 8% at the end of June 2003 to 356.3 million cubic feet, compared to 330 million cubic feet at the end of June 2003.

LNG consumption also rose by 8% to 356.3 million cubic feet, against 230million cubic feet at the end of June 2002.