Occidental to Boost Oman Crude Production in 2012

Source: www.gulfoilandgas.com 4/11/2010, Location: Middle East

Occidental Petroleum Corp will boost its crude production in Oman by 50 percent to 150,000 barrels per day (bpd) in 2012, senior company executive Bill Albrecht said.

The fourth-largest U.S. oil and gas company currently produces from the Mukhaizna field in Oman.

The start-up of production in Bahrain and increased output from its development in Oman helped increase fourth-quarter sales volume by nearly 5 percent from the previous year.

In January, Occidental announced during its fourth-quarter financial report, that overall 2009 oil output rose 7 percent from 2008, and the company expects 2010 output to grow by 5 percent to 8 percent.

Occidental's fourth quarter realized oil price was $69.39 per barrel, up from $53.52 a year earlier. U.S. natural gas prices however, slipped to $4.37 per thousand cubic feet from $4.67.

The company is targeting $4.3 billion in 2010 capital expenditure, up from $3.6 billion last year. A quarter of the increase will go to California, and another quarter to Iraq, where Oxy has just signed a partnership deal.


Qatar >>  6/19/2022 - QatarEnergy has chosen Eni as a new international partner in the North Field East expansion project.

The Minister of State for Energy Affai...

Qatar >>  6/2/2022 - North Oil Company (NOC) has awarded McDermott International a Front-End Engineering Design (FEED) contract for the Ruya Development, formerly known as...

Saudi Arabia >>  5/30/2022 - JGC Holdings Corporation (Representative Director, Chairman and CEO Masayuki Sato) announced today that JGC Corporation (Representative Director and...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.