Oman’s oil reserves increase by 4% to 4.9bn barrels

Omanisation in oil and fuel sector elevated to 88%

Muscat – Oman’s whole estimated reserves of crude oil and condensates elevated by 4 per cent to succeed in 4.876bn barrels on the finish of 2021 as compared with anticipated reserves recorded within the earlier yr, in accordance with the Ministry of Vitality and Minerals.

Crude oil and condensates reserves within the sultanate had been estimated at 4.706bn on the finish of 2020, in accordance with the ministry’s information.

Oman’s whole oil manufacturing within the yr 2021 stood at 354.5mn barrels with each day common manufacturing of 971,000 barrels per day. The sultanate exported about 289mn barrels of oil and condensates throughout 2021.

For 2022, Oman’s each day common manufacturing of oil continued to stay above 1mn barrels per day mark in the course of the first 4 months of 2022, up by greater than 9 per cent compared to the each day common output recorded in the identical interval of 2021.

The sultanate’s whole oil manufacturing within the first 4 months of 2022 grew by 9.2 per cent to 124.8mn barrels in comparison with 114.3mn barrels in the identical interval of 2021, the information launched by the Nationwide Centre for Statistics and Data confirmed.

Pure fuel reserves

Based on the Ministry of Vitality and Minerals, whole reserves of pure fuel in Oman are estimated at 23tn cubic toes on the finish of 2021, a major lower from the earlier yr’s estimated reserves of 24tn cubic toes.

The sultanate’s each day common manufacturing of pure fuel reached to 132mn cubic meters per day for the yr 2021, the ministry mentioned.

The ministry’s information confirmed that the general Omanisation ratio within the sultanate’s oil and fuel sectors have reached 88 per cent. Of the whole 19,943 folks working within the oil and fuel sectors, Omanis account for 17,565 employees and expatriates for two,378 employees.

Whole workforce within the oil sector stood at 14,491 folks in the long run of 2021 with an Omanisation ratio of 90 per cent. For the fuel sector, the place whole workforce stood at 5,452 employees, Omanisation stood at 84 per cent.