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Daleel Eyes 50,000 Bpd Production Target from Block 5

Source: Oman Observer 3/3/2012, Location: Middle East

Daleel Petroleum aims to ramp up oil production from its Block 5 concession in northwest Oman to 50,000 barrels per day (bpd) within the next few years, from the current output level of 35,000 bpd. The targeted output increase is part of the Omani co-owned oil producer’s strategy to be among the frontline players in the Sultanate’s mainstay hydrocarbon sector.

“Daleel has achieved a great deal of progress in raising oil production,” said Moza bint Saleh al Adawi, Chief Operating Officer. “When Daleel took over the concession in 2002, production was around 4,500 bpd. This year we are marking 10 years of successful operations, having boosted output to 35,000 bpd. That’s a significant improvement. We are looking forward to higher production levels.

Our vision is to reach 50,000 bpd perhaps within the next 3-4 years. Our goal is to reach 40,000 bpd within two years, and we are working very hard towards these targets,” she added in comments to the Observer. A 50:50 joint venture partnership between Mazoon Petrogas SAOC (part of the well-known Omani business house MB Holding) and Mazoon Petrogas BVI (part of China National Petroleum Corporation — CNPC), Daleel Petroleum has been often held up as an example of how Omani owned businesses can excel in a sector dominated primarily by international oil companies.

In 2002, the joint venture signed a Petroleum Agreement with the Omani government for the exploration, appraisal and production of hydrocarbon reserves in the onshore Block 5, located about 110km southwest of Ibri. That followed the departure of the then operator Japex Oman from the concession, which is now operated by a joint operating company founded by CNODC, CNPC (Hong Kong) Limited and MB Holdings.

As part of its efforts to augment output, Daleel plans to drill dozens of new wells this year. “We have three rigs drilling continuously this year, and we expect to increase this number to four rigs next year. Our goal is to drill about 40 wells this year and perhaps a little more than this number next year,” the Chief Operating Officer said.

At the same time, efforts continue apace in the quest for new hydrocarbons, she said. “We are continuing drilling and searching for new prospects within our concession. We have a big exploration programme this year. We are shooting seismic and hope to add to our success in finding new fields. Our expectation reserves currently stand at 146 million reserves.”

Asked about plans by the company to add new acreage to its current exploration portfolio, Moza al Adawi stated: “Our shareholders will not stop looking for any new opportunities.” The COO listed employment generation and Omanisation as among the company’s biggest achievements. “Over the years Daleel has grown. We now have a little under 300 people in the company. Omanisation presently stands at 84 per cent, and is targeted to grow to 86 per cent by year’s end.”

She further added: “We take pride in our large Omani workforce. We have an extensive training programme to enable Omanis to take on jobs in the company. Enrollees are put through a tailored programme to prepare them for full-time jobs in the field. We will continue to give on-the-job training for nationals in line with our commitment to the directives of His Majesty the Sultan to provide jobs for Omanis.”

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