Oman's oil production to stay stable

(MENAFN) Oman's oil and gas production is expected to remain stable with slight increases because of moderate better performance of existing oil wells as well as new wells which will start production, Muscat Daily reported.

The Omani Ministry of Oil and Gas said that production is expected to remain stable, with slight changes, for the remainder of the year, a decision similar to the one Saudi Arabia also took despite oil prices dropping last month due to instability in the geopolitical situation of the region.

Meanwhile, oil production in the sultanate grew 1.1 percent to reach 200mn barrels in January-July of 2014 compared with 198mn barrels for the corresponding period last year, while daily average production hit 945.600 barrels per day (bpd), compared with 935.700 bpd in the corresponding period of 2013